Center signs Rs 1,207-crore agreement with Cochin Shipyard

Cochin Shipyard Limited and the Defense Ministry inked a Rs 1,207 crore deal for the INS Vikramaditya’s Short Refit and Dry Docking (SRDD). The project is a significant step toward the development of Cochin Shipyard Limited as a Maintenance, Repair, and Overhaul (MRO) Hub to assist India’s industrial ecosystem, the government said in a statement.

It stated that more than 3,500 jobs would be created by the initiative, which is expected to involve about 50 MSMEs (Micro, Small, and Medium Enterprises). Notably, in November 2013, the Indian Navy commissioned the Indian Aircraft Carrier INS Vikramaditya. INS Vikramaditya will join the Indian Navy’s active fleet with improved combat capability following the completion of the refit. It is anticipated that this project will significantly advance the Make in India and Atmanirbhar Bharat initiatives.