Chennai, Nov 14 (UNI) Marg Constructions Limited, a leading infrastructure and real estate development company, today announced the acquisition of 'Marg Cauvery', a cutter section dredger, marking the company's foray into the dredging industry.
The Rs 52 crore dredger, to be deployed at Karaikal port being developed by Marg Constructions next month, had a dredging capacity of 2,000 cub metres per hour.
The five-month-old dredger arrived at Chennai port on November nine from China after trials. It would be able to dredge at depths in the range of five to 25 metres, company Managing Director G R K Reddy told reporters here.
Of the total requirement of eight million cubic ft of dredging, it would dredge 4.5 to five million cubic ft in nine months. The balance would be met through trailer suction power dredgers for dredging in deep sea. ''We are looking at acquisition as one of the option and also considering taking it on charter. A final decision will be taken soon,'' he added.
Marg Constructions was looking at a revenue of Rs 30 to 35 crore per annum.
He said the Karaikal port was being developed in three phases at a cost of about Rs 1,000 crore and the port, with two berths, would be commissioned by November next year after the completion of the first phase. The remaining two phases, involving construction of four berths, would be completed by the end of 2009.