Mercator to foray into dredging

Mumbai: Mercator Lines (MLL) is making an entry into the booming dredging sector. The second largest private shipping firm in India has bought two dredgers and is in the process of acquiring four more in the current fiscal with a cumulative investment of $300 million. Dredging Corporation of India (DCI) is the only major domestic player in the sector today. MLL will also consider spinning off the dredging business and float it as a separate company.  [17/10/07]