Knowledge Marine Secures ₹10.6 Crore NMPA Patrol Boat Contract
Filing Summary
Knowledge Marine & Engineering Works Ltd has received a work order from the New Mangalore Port Authority for the hiring of a River Sea Vessel type IV Security Patrol Boat. The contract, valued at ₹10,66,43,732 inclusive of GST, spans five years and includes all manpower except high-speed diesel. This agreement involves providing dedicated security services at the port. The contract does not involve related party transactions, and the promoter group has no interest in the awarding entity. The company will construct the patrol boat in-house to meet specific requirements.
Knowledge Marine & Engineering Works Ltd has been awarded a work order by the New Mangalore Port Authority for the hiring of a River Sea Vessel (RSV) type IV Security Patrol Boat. The contract is valued at ₹10,66,43,732 inclusive of GST and covers a period of five years. The agreement includes the provision of all necessary manpower, excluding high-speed diesel, for the operation of the patrol boat.
The financial terms of the contract specify a total value of ₹10,66,43,732, which includes all applicable taxes. The contract does not involve any related party transactions, and the promoter or promoter group of Knowledge Marine & Engineering Works Ltd has no interest in the New Mangalore Port Authority. The financial arrangement is structured to cover the full duration of the five-year contract period.
Operationally, the contract requires the deployment of one RSV type IV Security Patrol Boat to provide security services at the New Mangalore Port. The patrol boat will be dedicated to security tasks, including patrolling and monitoring the port’s waters to ensure the safety of vessels, personnel, and infrastructure. The company will construct the patrol boat in-house to meet the specific requirements of the contract, ensuring timely deployment and operational readiness.
The timeline for the contract is set for a duration of five years. During this period, Knowledge Marine & Engineering Works Ltd is responsible for maintaining the operational efficiency of the patrol boat and ensuring that all contractual obligations are met. The company will manage the deployment and operation of the patrol boat throughout the contract term.
The entities involved in this contract include the New Mangalore Port Authority, which awarded the contract, and Knowledge Marine & Engineering Works Ltd, which will execute the contract. The roles and responsibilities are clearly defined, with Knowledge Marine providing the patrol boat and associated services, while the Port Authority oversees the contract’s execution and compliance with agreed terms.
This contract is significant within the maritime security sector, highlighting the strategic importance of enhancing port security. The agreement aligns with Knowledge Marine & Engineering Works Ltd’s business focus on providing marine engineering solutions and services across India’s major ports. The company’s ability to secure such contracts underscores its established presence and capabilities in the maritime industry.
Knowledge Marine & Engineering Works Ltd, incorporated in 2015, specializes in owning and operating marine crafts, dredging, and providing repair and maintenance services. The company offers a range of marine engineering solutions, including dredging, ship repair, and technical services for vessel operations. It has evolved from a small ship-repair unit to a significant player in India’s maritime sector, serving various major ports and government entities.