Plans Rs.37,000 Cr. Capex
Cochin Shipyard Limited (CSL) recently signed a Memorandum of Understanding (MoU) with HD Korea Shipbuilding & Offshore Engineering (HD KSOE) for a long-term strategic collaboration in shipbuilding.
The MoU was exchanged during the landmark event “Samudra se Samriddhi Transforming India’s Maritime Sector”, inaugurated by the Prime Minister Mr. Narendra Modi in Gujarat. Union Minister of Port, Shipping and Waterways Mr. Sarbananda Sonowal along with Minister of State Mr. Shantanu Thakur were present, Mr Jung Changin, Senior Vice President, Head of Global Business Management Division, Hyundai, and Mr. Madhu S. Nair, CMD, Cochin Shipyard Limited were present during the signing.
This partnership seeks to combine CSL’s legacy, infrastructure, and domestic expertise with HD KSOE’s advanced technology and global experience, marking a significant step in strengthening India’s shipbuilding capabilities.
Under the MoU, CSL’s 310-meter new dry dock inaugurated in Jan. 2024 will be utilized to construct large vessels such as Suezmax tankers, container ships, and Capesize bulk carriers, with a capacity of up to six vessels annually.
To support this, CSL is planning a Block Fabrication Facility (BFF) in Kochi spread over 80 acres, with an annual capacity of 1,20,000 MT, involving an investment of about Rs3,700 crore.
This initiative is expected to generate around 2,000 direct jobs and substantial indirect employment.
