Dr G Y V Victor has assumed charge as the Managing Director and Chief Executive Officer of Dredging Corporation of India Ltd.
This is the first top management appointment at India’s biggest dredging contractor after the company was acquired by four Centre-owned major port trusts in a strategic divestment deal.
Visakhapatnam Port Trust, Paradip Port Trust, Jawaharlal Nehru Port Trust and Deendayal Port Trust acquired the Central government’s 73.47 per cent stake in DCI for ₹1,056 crore in March 2019.
Victor is the first DCI Cadet from All India Dredging Cadre notified in the Government Gazette to rise to the top position in the Visakhapatnam-based company.
Victor joined as a dredging cadet in DCI in 1991 and also worked in top international and national dredging companies over the last three decades prior to his selection as MD and CEO.
Victor who holds a Doctorate Degree, is a Chartered Engineer (UK), Chartered Physicist (UK), Certified Dredge Master and Mariner, qualified in Finance Management, Port Development and Management, Containerization and Logistics Management, qualified lawyer, Fellow in Arbitration, Licensed Arbitrator, Mediator and a qualified Admiralty and Contracts Lawyer.
Victor takes charge at a time when DCI is looking to expand dredging capacity by acquiring a new dredger to be built at Cochin Shipyard Ltd through technology and design support from IHC Holland B V and by increasing the capacity of its existing dredgers through technology upgradation.