Key Contract Details
- Awarding Entity: Mumbai Port Authority (MbPA)
- Contract Value: ₹279.33 crores (including GST)
- Contract Duration: 15 years
- Nature of Work: Chartering of 01 No. 60 Ton Bollard Pull Capacity New Battery Operated Electric Green Tug along with Manning, Operations, Maintenance and Complete Technical Management
- Entity Type: Domestic entity
Strategic Context
This contract represents KMEW's third green tug contract from Major Ports of India, further strengthening its presence in India's emerging Green Tug segment. The company is building a portfolio of next-generation marine assets with long-term operating commitments.
Execution and Operational Details
The construction will be supported through KMEW's subsidiary, Knowledge Shipyard Limited, which is also undertaking the construction of the company's other green initiatives. The simultaneous construction of multiple Green Tugs at a common shipbuilding platform is expected to provide greater standardization, repeatability and execution efficiencies.
Management Commentary
Mr. Sujay Kewalramani, CEO, stated that securing three Green Tug contracts reflects confidence in KMEW's technical capabilities and execution strength. The company aims to develop a scalable capability around next-generation marine assets by combining experience in marine operations with growing shipbuilding capabilities across the complete asset lifecycle.
Related Party Transactions
Promoter/promoter group/group companies have no interest in Mumbai Port Authority. The contract does not fall within related party transactions.
Broader Context
The Green Tug Transition Programme is part of the Government of India's maritime sustainability initiatives under the Maritime Amrit Kaal Vision 2047, announced on May 22, 2023. KMEW's participation aligns with the Make in India and Atmanirbhar Bharat initiatives.