Joint Venture25 Mar 2026, 03:53 pm
Cochin Shipyard Ltd Forms Joint Venture with HBL Engineering Limited for Electric Mobility Technology
AI Summary
Cochin Shipyard Ltd (CSL) has executed a Joint Venture Agreement with HBL Engineering Limited (HBL) to form a Joint Venture Company. The new company, named 'GREEN MARITIME PROPULSION PRIVATE LIMITED', will develop electric mobility technology and energy storage solutions in the maritime space. The JV Company will be incorporated in Hyderabad, India, with an initial capital of Rs. 9 crore. CSL will subscribe to 40% of the equity share capital, while HBL will subscribe to 60%. The JV is expected to leverage the complementary core strengths of both CSL and HBL, aligning with the Government of India’s vision of Aatmanirbhar Bharat.
Key Highlights
- Cochin Shipyard Ltd and HBL Engineering Limited have formed a Joint Venture Company named 'GREEN MARITIME PROPULSION PRIVATE LIMITED'
- The new company will develop electric mobility technology and energy storage solutions in the maritime space
- The JV Company will be incorporated in Hyderabad, India, with an initial capital of Rs. 9 crore
- CSL will subscribe to 40% of the equity share capital, while HBL will subscribe to 60%
- The JV is expected to leverage the complementary core strengths of both CSL and HBL, aligning with the Government of India’s vision of Aatmanirbhar Bharat