In Short:
Knowledge Marine & Engineering Works Ltd (KMEW) has secured a ₹19.27-crore deal to supply two patrol boats for the Mumbai Port Authority over seven years. This includes a multipurpose VIP launch and a security vessel. KMEW’s shares rose by 3.79%, reflecting its growing presence at five major Indian ports. The CEO highlighted their commitment to excellence in the maritime industry.
Exciting News for Knowledge Marine & Engineering Works Ltd!
In a fantastic development, Knowledge Marine & Engineering Works Ltd (KMEW) has secured a remarkable contract worth ₹19.27 crore from the Mumbai Port Authority. This announcement, which came to light today, signals a significant win for the company!
Patrol Boats on the Horizon
As part of this seven-year agreement, KMEW will be tasked with supplying high-speed vessels designated for security and VIP transport within the bustling Mumbai port area. These patrol boats will play a crucial role in ensuring safety and seamless transit in this vital maritime hub.
Stock Market Reaction
On the financial front, shares of KMEW are on the rise, trading at ₹1,819—a notable increase of ₹66.50, or 3.79 percent, on the BSE as of 12:35 pm today. It appears that investors are responding positively to this exciting development!
Expanding Footprint in Major Ports
This new contract marks KMEW’s second major order from the Mumbai Port, expanding its presence to five out of India’s twelve major ports. Under this agreement, the company will deliver one multipurpose VIP and security launch, in addition to a specialized security vessel—further strengthening its operational capabilities.
A Commitment to Excellence
Reflecting on this achievement, KMEW CEO Sujay Kewalramani shared: “This milestone highlights the importance of our role in the maritime industry, especially with the government’s emphasis on enhancing port efficiency and ancillary services. Our ability to offer a range of services under our port ancillary umbrella at these key locations sets us apart from competitors. This achievement underscores our commitment to excellence and timely execution, contributing to our continued success and growth.”
About KMEW
KMEW is a seasoned player in marine craft operations, dredging, and ship repair. With a robust order book from various Indian port trusts and government entities, the company continues to solidify its reputation in the maritime sector.
