Joint Venture11 Jun 2026, 05:41 pm
Cochin Shipyard Incorporates JV 'Green Maritime Propulsion'
AI Summary
Cochin Shipyard Ltd (CSL) has announced the incorporation of its joint venture company, 'Green Maritime Propulsion Private Limited', with HBL Engineering Limited. The JV, established on June 11, 2026, aims to develop electric mobility technology and energy storage solutions for the maritime sector. CSL holds a 40% stake, subscribing to shares worth ₹3.60 crore, while HBL holds 60% with a ₹5.40 crore investment. This collaboration aligns with the 'Aatmanirbhar Bharat' vision and seeks to capitalize on the growing demand for sustainable maritime technologies.
Key Highlights
- Cochin Shipyard and HBL Engineering form JV 'Green Maritime Propulsion'.
- JV focuses on electric mobility and energy storage for maritime sector.
- CSL holds 40% stake (₹3.60 Cr), HBL holds 60% (₹5.40 Cr).
- Collaboration aims to develop indigenous capabilities and products.
- Governmental approval from MoPSW/DIPAM has been obtained.
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