Knowledge Marine & Engineering Works Ltd. (KMEW) (BSE: 543273) has been awarded a Letter of Award (LOA) by the V.O. Chidambaranar Port Authority for the “Supply, Manning, Operation, and Maintenance of one high-speed patrol boat (HSPB) with a speed of 20 knots or more on a hire basis for a five-year period.” The contract is valued at Rs. 5,86,05,141/- (Rupees Five Crore Eighty Six Lakhs Five Thousand One Hundred and Forty One Only).
This marks KMEW’s inaugural contract in the southern region of India with V.O. Chidambaranar Port. This expansion into new markets underscores the company’s capability to penetrate diverse sectors.
V.O. Chidambaranar Port holds a significant position as one of India’s twelve major ports, ranking as the second largest in Tamil Nadu and hosting the country’s third largest container terminal.
Securing this contract enhances KMEW’s reputation and influence in the maritime industry, demonstrating its ability to secure and manage substantial contracts from key ports across India.
This contract not only reaffirms KMEW’s expertise in delivering high-speed patrol boats, as evidenced by successful deployments at Vizag Port and Paradip Port, but also represents its fourth triumph in this category, solidifying its position and capabilities in this specialized field.
This contract will expand the company’s fleet to 27 vessels and its clientele to 15, including ports, PSUs, and ministries across three different countries. Following the contract win, KMEW will deploy its 27th vessel to fulfill the contract within the specified timeframe.
The newly built vessel, with a lifespan of 20 years, will ensure efficient project completion. This underscores KMEW’s commitment to fulfilling contractual obligations and maintaining its reputation for reliability and performance in the high-speed patrol boat sector. Work is scheduled to commence within 180 days from the receipt of the order.