KMEW Secures ₹279.33 Crore Green Tug Contract from Mumbai Port Authority
Knowledge Marine & Engineering Works Limited secured a ₹279.33 crore contract from Mumbai Port Authority for a 15-year charter of a Green Tug. This is their third Green Tug order, reinforcing their presence in sustainable maritime infrastructure and aligning with national 'Make in India' initiatives.
The contract is substantial in value (₹279.33 crore) and long-term (15 years), representing a significant addition to the company's order book and a strategic move into a growing sector.
The company has secured a significant new order, which is a positive development for its business growth and market position in the green maritime sector.
Knowledge Marine & Engineering Works Limited (KMEW) has received a significant work order from Mumbai Port Authority (MbPA) for the chartering of one 60-ton Bollard Pull Capacity New Battery Operated Electric Green Tug. This contract includes manning, operations, maintenance, and complete technical management, and is valued at ₹279.33 crore, inclusive of GST, for a period of 15 years.
This award marks KMEW's third Green Tug contract from a Major Port, reinforcing its position in the emerging Green Tug segment. The company plans to construct this vessel alongside its two other Green Tugs at its shipbuilding platform, aiming to develop standardization, repeatability, and execution efficiencies. KMEW intends to leverage its integrated capabilities across shipbuilding, marine operations, and asset management throughout the lifecycle of these vessels.
The Green Tug business is a strategic extension of KMEW's existing marine capabilities, complementing its dredging and marine services. The company is building a scalable platform that spans dredging, marine assets, green vessels, indigenous shipbuilding, and lifecycle marine infrastructure. This initiative supports India's Green Maritime Vision and the Government of India's Maritime Amrit Kaal Vision 2047, aligning with the 'Make in India' and 'Atmanirbhar Bharat' initiatives.
Mr. Sujay Kewalramani, CEO of KMEW, expressed delight at securing the contract, highlighting the confidence in the company's technical capabilities and long-term vision. He emphasized the strategic advantage of constructing multiple Green Tugs simultaneously to build specialized technical expertise and a scalable capability around next-generation marine assets. The company is proud that these advanced vessels will be built in India, contributing to the development of domestic shipbuilding and marine asset capabilities.
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Knowledge Marine & Engineering Works Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Knowledge Marine & Engineering Works Limited. Read the original for the full detail.