KOCHI: The foundation for the country's largest dry dock at Cochin Shipyard was laid by Union Minister Nitin Gadkari and Kerala Chief Minister Pinarayi Vijayan here Tuesday.
The dry dock, being constructed at a cost of Rs 1,799 crore, would give an impetus to the 'Make in India' initiative under Sagarmala and raise India's share in global shipbuilding market to two per cent from 0.66 at present, officials said.
Speaking at a function on the occasion, the Union Minister for Shipping, Road Transport and Highways said the government has no plans to privatise CSL and other profit making Public Sector Units in the country.
"The profit-making Cochin Shipyard will not be privatised. We don't make any profit-making institution to privatisation. We will never allow any private person to take this because the Cochin Shipyard (CSL) is in good profit," he said.
He said the dry dock project is likely to increase India's share in global shipbuilding to two per cent.
The dry dock will give an impetus to 'Make in India' initiative under Sagarmala, Gadkari added.
At present, India occupies 0.66 per cent share in the global shipbuilding market.
The commercial shipbuilding industry in the country is Rs 3,200 crore and focuses primarily on small-medium sized off-shore vessels and cargo/bulk carriers.
Chief Minister Vijayan said CSL's project would pave the way for the development of India along with the growth of Kerala.
"This achievement will be a challenge to the foreign countries. The Kerala government is giving great importance to inland water transport. With the completion of Vizhinjam harbour project, Kerala will play a major role in the tourism industry", Vijayan said.
At present, Cochin Shipyard has two dry docks, one predominantly used for shipbuilding of size 255m x 43 x 43 x 9m and capacity 1, 10,000 DWT and the other one for ship repair of size 270 x 45 x 12m and capacity 1,25,000 DWT.
The project is expected to be completed by May 2021 and generate employment opportunities for about 2,000 people.
Equipped with the dry dock, Cochin Shipyard will be able to build specialised and technologically advanced large vessels like LNG Carriers, drill ships, Jack-up rigs, aircraft carriers for the Indian Navy and High Research Vessels.
The dry dock will be 310 metres long, 75 metres wide and have a depth of 13 meters.
it will be designed to handle both shipbuilding and repairs and bear a load up to 600 T/m with international safety standards.
The dock will also have a water treatment plant and Green Belt Development.
The project is expected to be completed by May 2021 and generate employment opportunities for about 2000 people, said Madhu S Nair, Managing Director and Chief Executive Officer of Cochin Shipyard.
On the occasion, two 500 capacity passenger vessels built by CSL for Andaman and Nicobar Islands administration were also launched by Kanchan Gadkari, wife of Nitin Gadkari.
These vessels will help enhance intra-island connectivity.