Knowledge Marine Secures ₹ 66.11 Crore Contract from IWAI for Building Hybrid Electric Ferries
Knowledge Marine & Engineering Works Limited (KMEW) has secured a contract with the Inland Waterways Authority of India (IWAI) worth ₹ 66.11 Crores. The project involves the design, construction, supply, testing, and commissioning of ten hybrid electric passenger ferries in collaboration with Knowledge Shipyard Private Limited (KSPL), a subsidiary of KMEW.The contract encompasses the entire lifecycle of the vessels, spanning initial manufacturing through a long-term maintenance commitment, positioning the company within India's growing green maritime infrastructure segment.
The consignment involves the production of 10 hybrid electric passenger ferries, each with a capacity of 20 passengers. The total value of the work order stands at ₹ 66.11 Crores, which includes taxes and is segmented as follows:
| Component | Contract Value (Including Taxes) |
|---|---|
| Construction of Ferries | ₹ 65.52 Crores |
| Maintenance and Support | ₹ 0.59 Crores |
KMEW, through the consortium led by KSPL, is committed to completing the design, construction, supply, testing, and commissioning phase within a period of 10 months from receiving the work order. This will be followed by a subsequent maintenance and support commitment lasting 60 months.
This contract marks a significant milestone for the KMEW Group, representing the first external commercial shipbuilding order secured by Knowledge Shipyard Private Limited (KSPL). The award validates the Group's strategic investments into establishing a dedicated and scalable shipbuilding platform capable of delivering technologically advanced vessels for India's inland waterways.
The project supports the Government of India’s initiatives aimed at promoting sustainable inland water transportation, aligning with efforts to foster low-emission and energy-efficient vessels. KMEW noted that successful execution of this project will strengthen its credentials in hybrid and electric vessel construction and serve as an important benchmark for future opportunities in specialized marine assets.
KMEW Stock Price Movement
On Friday, shares of Knowledge Marine & Engineering Works Limited edged higher to close at ₹2072.90, gaining 0.96% in trading. The stock managed a solid session within an intraday range spanning from ₹1965 to the daily high of ₹2129.3.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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