KMEW Sails into Shipbuilding with ₹80.69 Cr IWAI Order 🚀

Big news from the maritime sector! Knowledge Marine & Engineering Works Limited (KMEW), known by its symbol KMEW, has just announced a significant win that’s set to make waves in its business. The company has bagged a substantial order from the Inland Waterways Authority of India (IWAI), signaling a major strategic shift.

A New Horizon for KMEW

This isn’t just any contract; it’s a game-changer! KMEW will be responsible for the design, construction, and supply of 6 Work Boats and 6 Accommodation Boats for IWAI. The total value of this impressive contract stands at a whopping ₹80,69,35,920/- (that’s over eighty crores, including GST!). The project is slated for completion over a period of 20 months.

What makes this announcement particularly exciting is that it marks KMEW’s formal entry into the commercial shipbuilding sector. Until now, KMEW has been a trusted name in ship repair, dredging services, and operating marine crafts. This new order means they’re now directly building vessels for third-party clients, specifically for a government entity (B2G business). It’s a testament to their growing capabilities and a significant step towards diversifying their revenue streams.

Mr. Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd, highlighted the importance of this milestone, stating that it reinforces their vision of contributing to nation-building by providing ‘Make In India’ ships. This move is also expected to provide steady work for the company’s recently acquired shipyard.

This contract win not only strengthens KMEW’s portfolio but also aligns perfectly with India’s focus on enhancing its port efficiency and waterway infrastructure. It’s a clear indicator of KMEW’s dedication to innovation, quality, and timely execution in the maritime domain. Keep an eye on KMEW as they sail into this exciting new chapter! 🚢

source: Corporate Announcement

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