India’s largest shipbuilding and maintenance
facility, Cochin Shipyard Ltd, has partnered with Drydocks World, a company
under DP World, to develop world-class ship repair clusters in India. The two companies signed a memorandum of
understanding (MoU) under the guidance of the Ministry of Ports, Shipping and
Waterways, Government of India.
The MoU was signed at the ‘CEO Connect: Dubai-India
Economic Ties’ event held in Mumbai. The signing ceremony took place in the
presence of key dignitaries including H.H. Sheikh Hamdan Bin Mohammed Bin
Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister and Minister
of Defence of the UAE, H.E. Sultan Ahmed Bin Sulayem, Group Chairman and CEO of
DP World; Shri Piyush Goyal, India’s Minister of Commerce and Industry; and
Shri Madhu S Nair, Chairman and Managing Director of Cochin Shipyard.
The agreement outlines plans to jointly assess the potential of setting
up advanced ship repair and maintenance clusters at Kochi in Kerela and Vadinar
in Gujarat. The two companies
want to enhance India’s ship repair ecosystem by combining Cochin Shipyard’s
shipbuilding and repair expertise with Drydocks World’s International
experience in marine engineering and fabrication.