KOCHI: Public sector shipbuilder Cochin Shipyard Ltd (CSL) is in talks with major South Korean and Japanese companies to establish a large-scale shipbuilding facility in Kochi, aiming to transform the city into a global hub for shipbuilding and repair.
The move is expected to attract major investments and generate thousands of jobs in the region.
CSL on Tuesday signed an umbrella Memorandum of Understanding (MoU) with Drydocks World, a subsidiary of DP World, to collaborate on developing ship repair clusters in Kochi and Vadinar in Gujarat.
The MoU was signed during the visit of Sheikh Hamdan Bin Mohammed Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister of the UAE. Union Minister for Commerce Piyush Goyal was also present on the occasion.
The joint venture aims to establish a world-class ship repair facility by bringing in global expertise and enhancing CSL’s infrastructure in Kochi. CSL has already operationalised its International Ship Repair Facility (ISRF) in August 2024 at Willingdon Island, an area leased from the Cochin Port Trust.
The ISRF is equipped with a ship lift and transfer system, with six workstations, capable of repairing vessels up to 130 x 25 metres in size and a maximum lightweight of 6,000 tonnes.
CSL also has plans to establish an offshore fabrication facility by teaming up with other major public sector ports and tapping into the Rs 25,000 crore Maritime Development Fund announced in the Union Budget.
“We are in talks with one of the top three South Korean shipbuilders and some firms in Japan to establish a mega shipbuilding facility in Kochi. The talks are in the early stages and it is too early to disclose. But we are keen to develop CSL as a major shipbuilding destination utilising the 310-metre long dry dock facility inaugurated by Prime Minister Modi last year,” said CSL chairman and managing director Madhu S Nair.
“We have established basic infrastructure to build large ships. But the project will be viable only if we can efficiently turn around big vessels. For this, we need a huge hull block fabrication facility. We are hoping for a joint venture with some Korean or Japanese firms to install the new facility. The blocks will weigh 300 to 500 tonnes and have to be brought by sea. We are eyeing land in possession of the Cochin Port Authority to develop the facility. Once materialised, it will bring huge investment and create more job opportunities,” he added.