Knowledge Marine shines on securing major dredging contract from RKEC Projects
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Knowledge Marine & Engineering Works is currently trading at Rs. 1020.00, up by 18.65 points or 1.86% from its previous closing of Rs. 1001.35 on the BSE.
The scrip opened at Rs. 1025.00 and has touched a high and low of Rs. 1025.00 and Rs. 1020.00 respectively. So far 0 shares were traded on the counter.
The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 1450.00 on 13-Jan-2023 and a 52 week low of Rs. 156.15 on 04-Apr-2022.
Last one week high and low of the scrip stood at Rs. 1055.95 and Rs. 925.00 respectively. The current market cap of the company is Rs. 1081.56 crore.
The promoters holding in the company stood at 67.09%, while Institutions and Non-Institutions held 0.60% and 32.31% respectively.
Knowledge Marine & Engineering Works (KMEW) has secured a major dredging contract from M/s RKEC Projects on March 20, 2023 for the work of Development of Fishery Harbour at Veraval (Phase - II), Package, Gir Somnath of M/s Gujarat Maritime Board (GMB) for an amount of Rs 47.02 crore (including GST) for a period of 30 months. This is the consecutive second order of the company for development of fishing harbor in Gujarat. The project is being developed under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
The scope of work includes the dredging of inner and outer Harbour areas for removal of all types of soft soil such as sand, silt, clay etc. and removal of hard strata such as gravel, weathered rock, boulders to improve navigation in the area. KMEW needs to mobilize and deploy the Equipments by September 30, 2023 for the said project.
This order will be KMEW’s second Rock Dredging work after Mangrol Fishing Harbour Work. KMEW will execute the work single handedly with the deployment of suitable equipment. KMEW will work closely with RKEC and Gujarat Maritime Board (GMB) to obtain all the necessary statutory permissions and ensure compliance with highest standards of safety and environmental regulations.
Knowledge Marine & Engineering Works is engaged in the business of owning and operating of Marine Crafts for dredging along with repairs and maintenance/refits of Marine Crafts and Marine Infrastructure.
