Knowledge Marine & Engineering Works Ltd Secures Letter of Acceptance for Order at Visakhapatnam Port

Knowledge Marine & Engineering Works Ltd has clinched the Letter of Award (LoA) from the Visakhapatnam Port Authority, marking a significant milestone in the company's port ancillary business. The contract entails the Supply, Manning, Operation, and Maintenance of 1 No Pilot Launch with a Steel hull on a hire basis, with a contract value of Rs. 3,44,92,500/- (Rupees Three Crores Forty-Four Lakh Ninety-Two Thousand and Five Hundred Only), excluding GST. The three-year contract is scheduled to commence from 24.03.2024.

This achievement builds upon the company's exceptional execution capabilities, initially showcased with the acquisition of its maiden contract from Visakhapatnam Port in 2018 for a three-year term. Subsequently, the contract was extended for an additional two years until 23.03.2024, demonstrating the company's commendable track record. Following the successful completion of the initial contract, Knowledge Marine & Engineering Works Ltd has once again secured the bid, reaffirming its commitment to serving one of India's major ports. The vessel, River Pearl 3, is poised to continue its dedicated service under this renewed contract for the next three years, starting from 24.03.2024.

Expressing satisfaction about the Letter of Award, Mr. Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd, remarked, "We are pleased to share that we've secured a contract from the Vishakhapatnam Port Authority, underscoring our achievements in the port ancillary business. This success not only strengthens our standing at the port but also underscores our proficiency in securing contracts at higher price points. This contract win is a testament to our ongoing success at the port, having previously received an extension. We believe this achievement sets a benchmark for other major ports in India, further motivating us to explore additional opportunities in the industry." This latest contract win further solidifies Knowledge Marine & Engineering Works Ltd's position in the port services sector, highlighting its commitment to excellence and continuous growth.

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