The contract is for the supply of dredged marine sand in Bahrain. The contract carries a substantial value of 1.87 million Bahrani Dinar (approximately equivalent to 41.51 crore Indian Rupees, using an exchange rate of 1 BD = Rs. 221.40) and spans a tenure of 5 years. The said contract will commence during the third quarter of the fiscal year 2023-2024.

This will be company's fifth LOI in line for supply of dredged marine sand in Bahrain.

By successfully securing five contracts for the supply of dredged marine sand, the company has generated a cumulative LoI value of approximately Rs 383 crore for the next five years.

Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works, said that, “We are thrilled to declare our ongoing dedication to the 'Waste to Wealth' revenue model, which is resulting in the creation of a robust order book of approximately Rs 383 crore for the upcoming five years.

We are delighted to inform you that we have recently secured another LOI for the supply of marine sand in Bahrain. This achievement profoundly emphasizes the considerable demand for sand within the construction sector, thereby highlighting its crucial role in propelling development.”

Knowledge Marine & Engineering Works is in the business of owning and operating Marine crafts, dredging, repair and maintenance/refits of marine crafts and marine infrastructure. The company provides multiple solutions of marine engineering including dredging at various ports, carrying out repair and refit services of naval and merchant ships, conducting hydrographic and magnetometer surveys and technical solutions for maintenance and operations of vessels.

The company had reported a net profit of Rs 23.46 crore and net sales of Rs 77.28 crore in the quarter ended on 31 March 2023.