KMEW secures LoA from V.O. Chidambaranar Port for maintenance of HighSpeed Patrol Boat
General

KMEW secures LoA from V.O. Chidambaranar Port for maintenance of HighSpeed Patrol Boat

This contract is valued at Rs.5.86 crore

  • By ICN Bureau | June 10, 2024

Knowledge Marine & Engineering Works Ltd. has received a Letter of Award (LOA) from the V.O. Chidambaranar Port Authority for the "Supply, Manning, Operation and Maintenance of one number HighSpeed Patrol Boat (HSPB) of 20 knots speed or more on hire basis for a period of five years". This contract is valued at Rs.5.86 crore.

The company has secured its first contract in the southern region of India from V.O. Chidambaranar Port. This addition to the company's portfolio signifies the ability of the company to penetrate new markets. V.O. Chidambaranar Port holds a prominent position as one of India's twelve major ports, ranking as the second largest in Tamil Nadu and housing the country's third largest container terminal.

This achievement enhances the company's reputation and influence within the maritime sector, showcasing its ability to secure and manage substantial contracts from key ports across India. This contract not only reaffirms the company's proficiency in delivering high-speed patrol boats, a domain where it has already achieved success with deployments at Vizag Port and Paradip Port, but it also marks its fourth triumph in this category. This further cements the company's standing and capabilities in this specialized field. This will increase the company's fleet to 27 and clientele to 15 including Ports, PSUs and Ministries of three different countries.

Following the winning of the contract, the company will deploy its 27th Vessel to execute the contract within the stipulated time. The said vessel will be newly built with the life of 20 years and will ensure that the project is completed efficiently and within the designated timeframe. This highlights the company's commitment to meeting its contractual obligations and maintaining its reputation for reliability and performance in the high-speed patrol boat sector. Work is set to commence within 180 days from the receipt of the order.

Commenting on the Letter of Award (LoA), Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd said that, "We are excited to announce our expansion into the southern part of India with the successful acquisition of our first contract from V.O. Chidambaranar Port, one of the major ports in India. The port holds significant potential in terms of untapped opportunities in small craft business and rock dredging. This milestone further enriches our portfolio, complementing our ongoing successes at ports in both the eastern and western regions of the country. It underscores our commitment to exploring new opportunities nationwide. Looking ahead to FY25, we are enthusiastic about maintaining our momentum, with a focus on expanding into new segments while reinforcing our existing portfolio. This achievement boosts our confidence in securing more projects and solidifies our position in both the Indian and international markets."

Register Now to Attend NextGen Chemicals & Petrochemicals Summit 2024, 11-12 July 2024, Mumbai

Other Related stories

Startups

Chemical

Petrochemical

Energy

Digitization