Shares of Dredging Corporation of India shed 0.94% to Rs 625 on the BSE.

The contract involves dredging approximately 64,358 cubic meters of material over a period of four months in the port dock areas of Paradip Port, excluding the monsoon season.

The company confirmed that neither the promoter nor the promoter group has any interest in the contracting entity, and the contract does not constitute a related party transaction.

Knowledge Marine & Engineering Works is engaged in providing dredging services, owning and operating marine craft, and repairing, maintaining, and refitting marine crafts and marine infrastructure. Its head office is in Mumbai, and operations are spread across major ports in the country through branch offices in Kolkata, Vishakapatnam, Kandla, Vadinar and Sittwe, Myanmar.

Dredging Corporation of India (DCI) is engaged in providing integrated dredging services to ports, the Indian Navy, and other maritime organizations in India.