Cochin Shipyard to form JV with Drydocks World Dubai

Cochin Shipyard Ltd announced its Board of Directors has approved a proposal to form a joint venture with Drydocks World Dubai – FZCO (DDW). The JV will be a private limited company incorporated under the Companies Act, 2013, with its registered office in Kochi. The JV's purpose is to own, operate, and manage Cochin Shipyard's International Ship Repair Facility (ISRF) at Willingdon Island, Kochi. This facility will handle dry-docking, maintenance, repair, and overhaul of commercial and naval vessels up to 130 meters in length and 6,000-tonne weight, with plans to add ten workstations. Both CSL and DDW will hold 50% equity in the JVCo. The ISRF will be transferred to the JVCo. on a slump sale basis for a consideration of not less than ₹1,800 Crores, with CSL receiving 50% in cash and 50% in JVCo. shares. This JV aims to leverage complementary strengths, enhance capacity, and align with national maritime vision goals.