Key Contract Details

Contract Award: Knowledge Marine & Engineering Works Limited (KMEW) has received a Work Order from New Mangalore Port Authority (NMPA) for Maintenance Dredging at New Mangalore Port for the years 2026-27, 2027-28 & 2028-29 (03 Years).

Contract Value: ₹303.17 crore (Rupees Three Hundred Three Crores Seventeen Lakhs Only) including GST.

Contract Duration: 3 years

Bidding Outcome: KMEW emerged as the lowest bidder, with its bid approximately 10.16% below the competition's bid.

Project Scope and Specifications

Total Dredging Volume: 15.9 million cubic metres over three years

Annual Average Volume: 5.3 million cubic metres

Annual Base Contract Value: Approximately ₹101.07 crore including taxes

Operations Schedule: Commencement from 15th November 2026 for the first year, with annual dredging work to be completed within 150 days each year

Additional Scope:

  • Berthface dredging: 180,000 cubic metres over three years
  • Pump-house area dredging: 18,000 cubic metres over three years

Dredging Areas and Depths

  • Outer Approach Channel: 7.5 km channel; up to 15.40 m below Chart Datum (CD)
  • Lagoon, Oil Dock Arm and Turning Circle: Dredging up to 15.10 m below CD in specified areas
  • KIO Berth Extension Lagoon: Up to 14.00 m below CD
  • Designated Berth Faces: Berth-specific depths ranging from 8.00 m to 15.10 m below CD
  • Old Dock Arm / Eastern Dock: To depths specified by the Engineer / Marine Department
  • Pump Houses 1 and 2: 6.00 m below CD
  • Pump House 3: 10.00 m below CD

Equipment Requirements

The project involves deployment of a suitable Trailing Suction Hopper Dredger (TSHD), along with specialised equipment for berth-face and pump-house dredging.

Strategic Significance

This contract represents KMEW's largest-ever dredging order and marks a strategic progression towards higher-volume dredging assignments. It provides multi-year revenue visibility and positions the company for larger-scale port infrastructure projects.

Management Commentary

Mr. Sujay Kewalramani, Chief Executive Officer, highlighted three key aspects:

1. Scale in volume of execution and revenue

2. Larger responsibility of maintaining the complete port

3. Full-Spectrum presence, smaller as well as larger dredgers

He noted this is the first time maintenance dredging of the complete port premises has been awarded to KMEW, representing an inflection point for owning and operating mid-size Trailing Suction Hopper Dredger.

Regulatory Compliance Information

Filing Reference: KMEW/BSE/Reg-30/2026-27/40

SEBI Master Circular Reference: HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated July 11, 2023 and last updated on January 30, 2026

Additional Details from Annexure B:

  • Awarding entity: Domestic entity (New Mangalore Port Authority)
  • Nature: Maintenance Dredging
  • No related party transaction involvement
  • Promoter/promoter group/group companies have no interest in the entity that awarded the contract

Company Background

KMEW is in the business of owning and operating Marine Crafts, dredging, repair and maintenance/refits of Marine Crafts and Marine Infrastructure. The company provides multiple solutions of marine engineering including dredging at various ports, carrying out repair and refit services of naval and merchant ships.