Cochin Shipyard and Drydocks World Sign Joint Venture to Expand Ship Repair Hub in Kochi
Cochin Shipyard Limited (CSL) and Drydocks World, a subsidiary of DP World, have entered into a 50:50 joint venture agreement to operate and expand the International Ship Repair Facility (ISRF) in Kochi, Kerala. The deal was formally signed in New Delhi on the margins of the 18th BRICS Summit in the presence of Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal and senior UAE diplomatic representatives.
This public-private partnership marks a major milestone for India's maritime and shipbuilding ecosystem. Under the terms of the agreement, the joint venture entity will manage operations and scale up capacity at the ISRF in Kochi to serve a broader range of domestic, regional, and international commercial vessels. The initiative expands upon an earlier Memorandum of Understanding signed during India Maritime Week, transitioning the partnership into an operational commercial framework.
Speaking at the signing ceremony, Union Minister Sarbananda Sonowal highlighted that the collaboration leverages DP World's global expertise in marine infrastructure and CSL's domestic shipbuilding capabilities. The joint venture is expected to transform Kochi into a primary maritime servicing hub in the Indian Ocean region, generating local employment opportunities in marine engineering, equipment maintenance, and specialized fabrication.
