Belgian funding supports Indian dredging works – by David Foxwell

This is along with the dredging of a new 19km long access channel and a turning basin. Other references include port extension works in Cochin, Paradip, Karwar (the ‘Seabird’ project), Visakhapatnam and the development of Gangavaram Bulk Terminal Port.

‘These are strong indicators that ISD contributes positively to the Indian maritime industry in terms of development of new ports and harbours’, said the company, noting that it has mastered the maintenance of geobunds that were constructed for the first time in India by Dredging International for Hazira Port Terminal.

‘Furthermore, ISD has successfully completed maintenance projects in several Indian ports to the utmost satisfaction of the employer. ISD is currently involved as main contractor in major capital dredging works at Kakinada Seaport. A first phase, the Kakinada Seaport Access Channel, Turning Basin and Berth 4, is at the completion stage.

‘ISD can also offer the Indian market properly engineered creative financial packages to provide funding for new port developments. Tailor made financial packages can be assembled and negotiated with potential investors, financial institutions and authorities to allow the implementation of new developments.’

One recent example of these services is the buyer’s credit that was signed in October 2009 between Kakinada SeaPorts Ltd and KBC Bank of Belgium for the above mentioned second stage of the Kakinada port development. This buyer’s credit structure is supported by the official Belgian Export Credit Agency ONDD.