Dredging Corporation of India (DCI) has signed an agreement with the Inland Waterways Authority of India (IWAI) for the development and maintenance of a fairway on national waterways in the northeastern region that is estimated to cost Rs 204.50 crore, the company said.

The scope of the work includes the development and maintenance of a 32-meter fairway width and depth of 2-2.5 meters for 3 years on national waterways in the northeastern region by conducting dredging, channel marking and river training to ensure safe navigation of ships, Dredging Corporation of India said.

The agreement was signed on Thursday by Captain S Divakar, Managing Director and Chief Executive Officer (additional cost), Dredging Corporation of India and Ashutosh Gautam, Member Technical, Inland Waterways Authority of India. The agreement marks the entry of the Dredging Corporation of India into the inland navigation sector.

The Visakhapatnam-based company currently carries out maintenance dredging, capital dredging, land reclamation, beach replenishment and project management advice for major ports, non-major ports, the Indian Navy, fishing ports and other maritime organisations.