KMEW gets a waterway maintenance contract worth Rs 147 crore from IWAI

Knowledge Marine & Engineering Works Limited (KMEW) The Inland Waterways Authority of India (IWAI) has awarded a contract worth Rs 147.43 crore for fairway maintenance of two sections of National Waterway-1. The contract announced on October 28 covers the Sultanganj-Mahendrapur (74 km) and Mahendrapur-Barch (71 km) sections on the Ganges River.

Shares of Knowledge Marine & Engineering Works Limited (KMEW) were trading at Rs 1,795, up Rs 102.55 or 6.06 percent on the BSE at 2:11 pm today.

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The three-year contract, which can be extended for another two years, is KMEW’s third agreement with IWAI, bringing the total length of the managed waterway to 365 kilometers. For this project, the company will engage three dredges and three work boats.

This latest award pushed KMEW’s order book to IWAI to over Rs 270 crore, making it one of the premier dredging contractors. The project is part of the World Bank-funded Jal Marg Vikas project aimed at increasing the carrying capacity of inland waterways.

CEO Sujay Kevalramani noted that this is KMEW’s largest domestic contract to date. Founded in 2015, KMEW has evolved from a ship repair division into a comprehensive marine engineering company serving clients including the Ministry of External Affairs and various port trusts across India.

The contract provides for dredging and river conservation measures to ensure safe navigation of vessels in the specified areas.

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