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Time of India
4 days ago
- Business
- Time of India
Tricolour hoisted across PSUs in Vizag on Independence Day
1 2 Visakhapatnam : Gaiety and pomp marked Independence Day celebrations at public sector units (PSUs) in Visakhapatnam. The Tricolour was hoisted at Hindustan Shipyard Limited (HSL), Vizag Steel Plant (VSP), Dredging Corporation of India Limited (DCIL), Visakhapatnam Port Authority (VPA) and other institutions. HSL CMD Cmde Girideep Singh (Retd) said employees' commitment and hard work propelled HSL to a historic turnover of Rs 1,471 crore and a PAT of Rs 213 crore in FY 2024–25, with progress toward Mini Ratna status in the coming months. Emphasising future direction, he outlined HSL's adoption of Industry 4.0 practices, operational excellence initiatives, infrastructure modernisation, and upgrades in accounting standards—not merely as physical improvements, but as strategic enablers to meet the challenges of the next stage of growth. Visakhapatnam Port Authority (VPA) chairman Dr Angamuthu assured the people of Visakhapatnam that the port, in close coordination with the state government and local authorities, is working diligently to combat pollution and improve living conditions in the city. Highlighting the port's performance, he noted that VPA achieved its highest-ever cargo handling in the last financial year and expressed confidence in maintaining the momentum this year. Dredging Corporation of India Limited (DCIL) MD and CEO Durgesh Kumar Dubey said the company successfully executed several critical dredging assignments at major Indian ports—including JNPA, Cochin, Paradip, SMP Kolkata, VPA—and inland dredging works in the North-East during FY 2024–25. Further fortifying its leadership in the maritime sector, DCIL recently secured new dredging contracts for prominent ports such as JNPA, Paradip, and Puducherry, setting the course for sustained growth in the years ahead. Hindustan Petroleum Corporation Limited (HPCL) Visakha Refinery executive director (in-charge) R Ramakrishna, along with CGM (HR) G Kiran Kumar, stated that the mega Visakh Refinery Modernisation Project, which will increase refining capacity to 15 MMTPA, is progressing as planned. They mentioned the smooth commissioning of the new units on time. Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant, director (Personnel) Dr Suresh Chandra Pandey highlighted recent developments at the plant. He stated that the restart of Blast Furnace-3 marks a significant milestone—not merely an operational success, but a testament to resilience and unwavering determination to progress. The CMD of EPDCL, Prithvitej Immadi, stated that the company has been providing uninterrupted power services with the highest quality standards to 7.3 million consumers within its jurisdiction. Transmission and distribution losses have been reduced to less than 5.8%, positioning the company at the forefront nationwide. He mentioned that free electricity has been provided to 23,024 houses in PVTG tribal areas, 1,979 houses under the DA-JGUA scheme, and 13,000 non-PVTG houses. Under the Prime Minister's Surya Ghar Yojana, 63.522 megawatts of solar rooftop systems have been installed on 19,385 homes, leading the state. As part of the RDSS scheme, new feeders have been established with an investment of Rs 3,004 crore for 24x7 three-phase power supply to rural areas, and 33 kV and 11 kV underground cables are being installed across Visakhapatnam city. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Krishna Janmashtami Wishes ,, messages , and quotes !


Time of India
17-05-2025
- Business
- Time of India
India's maritime sector to mirror post-1991 road revolution: DCIL CEO
DCIL CEO Durgesh Kumar Dubey Just as roads transformed post-1991, the next 20 years will belong to India's maritime sector, with dredging playing a critical role, said Durgesh Kumar Dubey , deputy chairman of Visakhapatnam Port Authority and managing director and CEO of Dredging Corporation of India Limited (DCIL). The Dredging India Conclave 2025, hosted by FICCI, convened leading voices from the maritime and infrastructure ecosystem to discuss the future of dredging and its role in realising India's maritime potential. Speaking at the event, Dubey traced India's infrastructure evolution from post-liberalisation reforms to today's ambitious maritime initiatives. Reflecting on his personal experiences in Indian Railways and national infrastructure growth, he explained how early initiatives like the Golden Quadrilateral and Pradhan Mantri Gram Sadak Yojana laid the groundwork for today's robust logistics and connectivity framework. 'This small program by FICCI is a step forward for a big leap in the maritime sector,' he said. Dubey also highlighted transformative initiatives such as the dedicated freight corridor and the recently announced Rs 25,000 crore maritime development Fund , along with the creation of Sagar Mala Development Corporation Ltd. (now an NBFC), as key enablers of growth in the sector. He cited Visakhapatnam Port as a case study of port-led industrialisation, where strategic port infrastructure catalysed industrial growth attracting major companies like HPCL, RINL, and AMNS. 'Ports like Visakhapatnam have enabled the creation of industrial hubs supported by seamless road, rail, and air connectivity; this is the power of port-led growth,' Dubey said. Highlighting the dual nature of the dredging sector—capital dredging at major ports and smaller maintenance dredging—he said that both are vital for national development. As the head of DCIL, Dubey reaffirmed the company's commitment to expanding its dredger fleet, including the upcoming TSHD Godavari (12,000 m³), and looking beyond India into high-demand regions like the Middle East and Southeast Asia. 'There is a massive demand for dredging capacity, not only from new ports like Vizhinjam in Kerala or Galathea Bay in Nicobar but also from industries building their own captive ports across India,' he added. Dubey drew attention to the untapped potential of inland dredging, especially for reservoirs and canals suffering from siltation, which reduces water holding and flood management capacities. With aging dams across the country, he urged fleet manufacturers and contractors to focus on developing smaller suction and cutter dredgers tailored for inland water bodies. 'This sector is growing fast. With the government's focus on inland silt management, there's recurring demand that can't be ignored. Waterways are the most cost-effective and eco-friendly means of transport and maintaining them is both a business opportunity and a national imperative,' he said. Dubey also mentioned upcoming government meetings with key ministries to align efforts on this front, indicating a coordinated push towards waterway and reservoir dredging. He also made an open call for partnerships and investments in India's dredging sector. He spoke about the need for capable contractors, innovative technologies, and aligned private-public collaboration to achieve national maritime goals. 'DCI is ready to lead, but we need partners—investors, contractors, manufacturers—because without last-mile connectivity and execution support, our collective efforts may fall short,' he concluded. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now


The Hindu
12-05-2025
- Business
- The Hindu
Union Ports Secretary visits DCIL
Union Ministry of Ports, Shipping and Waterways Secretary T.K. Ramachandran on Monday visited the Dredging Corporation of India Limited (DCIL) headquarters in Visakhapatnam. Mr. Ramachandran conducted a comprehensive review of DCIL's overall performance and interacted with the senior leadership team. He emphasised upon the need for the corporation to focus on strategic initiatives aimed at enhancing productivity and competitiveness in the current market environment. He lauded DCIL's vital contribution to maintaining navigational channels across the country through its dredging operations. DCIL Chairman Madhaiyan Angamuthu briefed the Secretary on the corporation's ongoing strategic initiatives and its pivotal role in supporting maritime trade by ensuring navigability at major Indian ports. While, Managing Director and CEO Durgesh Kumar Dubey provided an overview of the ongoing projects and financial performance. The Secretary also visited the DCIL museum.