Financial Daily from THE HINDU group of publications
Tuesday, Jan 01, 2002
Money & Banking
Agri-Biz & Commodities
Industry & Economy
DCI in pact with China co for Dubai project
KOLKATA, Dec. 31
DREDGING Corporation of India (DCI) has signed a Memorandum of Agreement (MoA) with China Rail & Transport Company for undertaking dredging and reclamation work in the sea near Dubai.
The total order secured by the Chinese firm is for about 70 million cubic metres, of which DCI's share is estimated to be 20 million cubic metres, valued at Rs 150 crore approximately.
However, the deal will be finalised only after the details of the project have been firmed up.
For this, both the Indian and Chinese companies are awaiting more information on the strata, i.e., whether it will be rock or sand strata.
The Chinese company is believed to be in negotiations with a few other international dredging firms for executing the job. A Bahrain-based firm is understood to be mediating between DCI and the Chinese firm.
It is also learnt that UAE is planning to develop for two islands for recreation purposes - Palm Island I and Palm Island II, in the shape of palm trees with a total surface area of 7.5 million square metres.
The total cost is estimated at $3 billion. The entire project, being developed by Dubai Palm Developers, is to be ready within two years.
The dredging and reclamation work for the first island (Palm Island I) was first given to a Malaysian company, which did not deliver the goods. The job subsequently went to VOAHAM, a joint venture of two Dutch dredging firms, Van Oord and HAM.
The job involves the removal of about 65 million cubic metres of sand and 2.5 million cubic metres of rock.
The reclamation and dredging work for the second island (Palm Island II), to be located about 21 km south-west of Jebel Ali port near Jumeriah beach, has been awarded to China Rail & Engineering Company.
If DCI gets the Dubai job, it will be its second overseas operation in recent times.
For the past three months, the public sector dredging firm has been engaged in reclamation work at Taichung harbour in Taiwan.
The job involves dredging and reclamation work of about six million cubic metres. DCI's dredger, DR 16, is being deployed to execute the project.
Send this article to Friends by E-Mail
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line