Knowledge Marine & Engineering Works Limited has informed the Exchange regarding a revised press release dated May 04, 2026, titled "Strategic Expansion through acquisition of Waterfront Land for Shipyard ".
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Knowledge Marine & Engineering Works Limited (KMEW) announced acquisition of approximately 15 acres of prime waterfront land at Saphale, Palghar, Maharashtra, with an additional 5-acre expansion option. The acquisition was executed through its subsidiary, Knowledge Shipyard Private Limited. The site offers ~188 meters of waterfront access, natural slipway with ~6 meters high-tide draft, and is located near the upcoming Vadhvan Port along the Vaitarna River. The company plans a three-phase development: Phase I for specialized workboats and tugs, Phase II for integrated repair facilities and floating dry docks, and Phase III for large-scale vessels. This supports India's Maritime India Vision 2030 and the Shipbuilding Financial Assistance Policy.
This acquisition marks a significant strategic expansion as KMEW transitions from ship repair and chartering into full-scale shipbuilding. The dedicated shipyard platform could drive future revenue growth and position the company in India's growing maritime infrastructure sector, potentially positive for long-term shareholders.