Knowledge Marine & Engineering Works’s shares were up by 1.74 per cent after the company secured a contract from the Paradip Port Authority for the supply of a 20 Knots Speed Patrol Boat with a crew on hire. The five-year contract, valued at ₹5.02 crore (excluding GST), includes daily hire charges and provision of fuel based on actual consumption by the port authority.
Paradip Port Authority, an East Coast port in India, offers KMEW the opportunity to expand its regional operations. KMEW has previously provided similar services to Visakhapatnam Port, marking its third foray into fast-speed patrol boats.
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Sujay Kewalramani, CEO of Knowledge Marine and Engineering Works Ltd., said, “This accomplishment signifies our expansion to additional major ports in India. This contract win reflects our ongoing achievements in the small craft business through the diverse range of services we offer. We are actively exploring new opportunities, both within our domestic market and on the global stage.”
The shares were up by 1.74 per cent to ₹1,509 at 11.39 am on the BSE.