Knowledge Marine & Engineering Works Ltd. (KMEW) has secured a ₹66.11-crore contract from the Inland Waterways Authority of India (IWAI) to design, construct, supply, test, and commission 10 hybrid electric passenger ferries, each with a capacity of 20 passengers.
The order, awarded to a consortium of KMEW and its subsidiary Knowledge Shipyard Ltd. (KSPL), includes ₹65.52 crore for ferry construction and ₹0.59 crore for maintenance and support.
The ferries are to be delivered within 10 months, followed by a five-year maintenance commitment.
The contract marks KMEW’s entry into the green shipbuilding segment as well as the first external commercial shipbuilding order. The company said the project aligns with India’s push for sustainable inland water transport and will strengthen its capabilities in hybrid and electric vessel construction.
KMEW said the project will further its transition from a marine services company to an integrated maritime infrastructure and shipbuilding player, while creating a platform for future opportunities in sustainable vessel manufacturing.
Shares of the company closed at ₹2072.90 apiece on Friday evening, up 0.91% for the day.
More recently, the company saw fresh institutional interest. On June 19, SBI Funds Management acquired nearly 4 lakh shares, equivalent to a 1.64% stake, for around ₹79 crore at ₹1,963.17 per share.
At the same time, KMEW’s promoters, Kanak Kewalramani and Dinesh Kewalramani, offloaded 5.13 lakh shares through a block deal, raising about ₹101 crore at an average price of ₹1,962.35 per share.
