KoPT examining prospects of mega dredging company: Chairman

Kolkata, May 29(UNI) A mega dredging company will be formed by three port trusts, including Kolkata Port Trust(KoPT), at a cost of Rs 6,000 crore.

''The KoPT board is examining the scope of such a company and the feasibility of the project. We are trying to find out what benefits can we get through this project,'' KoPT chairman Anup Chanda told UNI here today.

Three Port Trusts and two public sector undertakings would form a consortium to set up this mega dredging company, he said. Mumbai Port Trust(MPT), Jawaharlal Nehru Port Trust(JNPT), Mazagaon Dock and Shipping Corporation of India would be part of the consortium apart from KoPT.

The proposal would go before the Union Cabinet shortly for clearance. Presently, Dredging Corporation of India is the only domestic company to carry out dredging and has been able to meet only 10 per cent of the country's demand.

''With modernisation of the ports in the country, the demand of dredging is on the rise. The new company will utilise the opportunity,'' he said.

The proposed dredging company would be fully owned by public sector undertakings and financed through equity participation in proportion to the share among the partners.

UNI