Knowledge Marine & Engineering Works has become the first Indian entity in Bahrain to receive such authorization. The coveted license is expected to have a direct positive impact on the company's revenue, with the projected contribution set to commence from January 2024.

Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works said that, "We are thrilled to announce our success in securing the license to extract marine sand from Kingdom of Bahrain, symbolizing its significance in the sand extraction and supply of mined sand to buyers.

The sand extracted will be sold to infrastructure companies for various construction activities and for land reclamation purposes. This accomplishment not only unlocks opportunities for further market expansion and growth but also positions us strategically to delve into additional projects, form partnerships, and engage in collaborations, thereby enhancing our presence in the Bahraini market."

Knowledge Marine & Engineering Works specializes in owning and operating marine crafts, as well as providing services such as dredging, repair, maintenance, and refits for marine crafts and infrastructure. The company offers diverse marine engineering solutions, including dredging at different ports, repair and refit services for naval and merchant ships, hydrographic and magnetometer surveys, and technical support for vessel maintenance and operations.

On a consolidated basis, the company's net profit rose 2.4% to Rs 24.19 crore on 12.9% decline in net sales to Rs 106.88 crore in the 1st half of 2023 compared with the same period last year.

Shares of Knowledge Marine rose 1% to 1402.85 on 6 December 2023.