Normal operations of Dredging Corporation of India Ltd impacted due to COVID-19 induced lockdown

NEW DELHI: The normal operations of Dredging Corporation of India Ltd have been impacted in a number of ways as COVID-19 induced lockdown impeded conducting surveys, the company said in its annual report.The coronavirus situation led to imposition of lockdowns, regimented deployment of manpower leading to shortages at the work sites and yards, inordinate delays in import of emergency spares which are required to carry out the scheduled dry-docks, closure of workshops, lack of OEM support, logistic constraints and risks of virus infections, the company said.It also imposed unusual delays in both dry-docking/running repairs in yards, impeded conducting surveys and resulted in postponement of securing new work orders, the annual report for 2019-20 said.Some of the vessels became either non-operational or operated at suboptimal efficiencies in 2019-20 as also in 2020-21.Notwithstanding constraint, the management has taken a number of measures in the last three months and will continue to take best possible steps to keep the operations, it said."A definitive assessment of the impact on business is highly dependent upon the circumstances as they evolve. The management is monitoring the situation closely," the report said.Dredging Corporation of India Ltd is a premier dredging company engaged in the business of dredging. It is involved in maintenance dredging, capital dredging, beach nourishment, land reclamation, shallow water dredging, project management consultancy and marine construction.

from Economic Times https://ift.tt/39wDN7Y