KMEW Secures Rs. 5.86 Crore Contract with V.O. Chidambaranar Port for High-Speed Patrol Boat

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Knowledge Marine & Engineering Secures First Southern India Contract with V.O. Chidambaranar Port

Team FS

10/Jun/2024

Key Points:

KMEW wins a Rs. 5.86 crore contract from V.O. Chidambaranar Port Authority for a high-speed patrol boat.
This marks KMEW’s first contract in southern India, expanding its market reach.
The new vessel will enhance KMEW’s fleet and showcase its expertise in high-speed patrol boats.

Knowledge Marine & Engineering Works Ltd. (KMEW), a prominent player in the Indian maritime sector, has achieved a significant milestone by securing a contract from the V.O. Chidambaranar Port Authority. This Letter of Award (LOA) is for the supply, manning, operation, and maintenance of one high-speed patrol boat (HSPB) with a speed of 20 knots or more on a hire basis for five years. Valued at Rs. 5,86,05,141/-, this contract signifies KMEW’s successful entry into the southern region of India and highlights its growing influence in the maritime industry.

Contract Details:

The contract from V.O. Chidambaranar Port Authority, one of India's twelve major ports and the second largest in Tamil Nadu, marks KMEW’s first venture into the southern Indian market. Known for housing the country’s third-largest container terminal, V.O. Chidambaranar Port is a critical hub in India’s maritime infrastructure. This contract not only enhances KMEW's portfolio but also reinforces its ability to penetrate new markets and manage substantial contracts from key ports across the country.

Significance and Impact:

This achievement is a testament to KMEW’s expertise in delivering high-speed patrol boats, a field where it has already demonstrated significant success with previous deployments at Vizag Port and Paradip Port. The current contract is the fourth of its kind for KMEW, further cementing its reputation and capabilities in this specialized domain. The addition of this contract will increase KMEW's fleet to 27 vessels and expand its clientele to 15, including various ports, public sector undertakings (PSUs), and ministries across three different countries.

Operational Excellence:

Following the award, KMEW is set to deploy its 27th vessel to execute the contract within the stipulated time. The vessel, which will be newly built with a lifespan of 20 years, underscores KMEW’s commitment to delivering high-quality and reliable maritime solutions. The commencement of work is scheduled to begin within 180 days from the receipt of the order, ensuring that the project is completed efficiently and within the designated timeframe.

CEO’s Vision:

Commenting on the Letter of Award, Mr. Sujay Kewalramani, CEO of KMEW, expressed his excitement about expanding into the southern part of India. He stated, “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.”

Strategic Importance:

The contract from V.O. Chidambaranar Port Authority highlights the strategic importance of expanding KMEW's operations to southern India. The port, known for its significant role in India's maritime sector, offers numerous opportunities for growth in small craft business and rock dredging. This contract positions KMEW to tap into these opportunities, further diversifying its portfolio and reinforcing its market presence across different regions of India.

Future Prospects:

Looking ahead, KMEW is poised to leverage this contract to secure more projects and expand its market presence both domestically and internationally. The company’s focus on innovation, reliability, and high-quality service delivery will continue to drive its success in the maritime sector. By maintaining its commitment to excellence and exploring new opportunities, KMEW aims to solidify its position as a leading player in the industry.

Conclusion:

The acquisition of the contract from V.O. Chidambaranar Port Authority is a significant achievement for Knowledge Marine & Engineering Works Ltd. It not only marks the company’s successful entry into the southern Indian market but also enhances its reputation and influence within the maritime sector. With a growing fleet, expanding clientele, and a commitment to operational excellence, KMEW is well-positioned to continue its trajectory of growth and success in the years to come.

Call to Action:

For stakeholders and industry leaders, KMEW's latest achievement serves as an inspiration to invest in advanced maritime solutions and explore new market opportunities. By embracing innovation and strategic expansion, companies can achieve remarkable progress and contribute to the growth and development of the maritime sector.

Also Read : MICL Group Acquires Prestigious Redevelopment Project at Bandra Kurla Complex

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Knowledge Marine & Engineering Secures First Southern India Contract with V.O. Chidambaranar Port

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