Cochin Shipyard Joins HD Korea To Help India Meet Its Long-Term Shipbuilding Goal

(MENAFN- IANS) New Delhi, Sep 23 (IANS) In a fillip to India's shipbuilding goal, Cochin Shipyard Limited (CSL) on Tuesday said it has signed a memorandum of understanding (MoU) with HD Korea Shipbuilding and Offshore Engineering for a long-term strategic collaboration in shipbuilding.

The partnership seeks to combine CSL's legacy, infrastructure, and domestic expertise with HD Korea's advanced technology and global experience, marking a significant step in strengthening India's shipbuilding capabilities.

According to a Ministry of Ports, Shipping and Waterways statement, CSL's 310-metre new dry dock which was inaugurated by Prime Minister Narendra Modi in January will be utilised 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, a dedicated Block Fabrication Facility (BFF) is planned at Kochi in approximately 80 acres, with an annual capacity of 1,20,000 MT, involving an investment of about Rs 3,700 crore.

This initiative is expected to generate around 2,000 direct jobs and substantial indirect employment estimated at 2 to 5 times higher in sectors such as logistics, MSMEs, supply chain, and ancillary industries.

The collaboration will also focus on joint execution of shipbuilding projects at CSL's existing facilities during the transition phase, while simultaneously exploring opportunities in new business areas, greenfield shipyards, and skill development.

By enhancing production efficiency and delivering next-generation vessels, the partnership is aligned with national initiatives like Maritime India Vision (MIV) 2030 and Maritime Amrit Kaal Vision (MAKV) 2047, reinforcing the mission to position India as a global shipbuilding hub.

Additionally, CSL signed a second MoU with Guidance, the nodal agency of the Tamil Nadu government, in line with the Centre's vision for developing shipbuilding clusters.

As part of its long-term growth strategy, CSL is considering a greenfield investment of about Rs 15,000 crore to establish a state-of-the-art shipyard in Tamil Nadu in collaboration with a Korean partner.

According to the ministry, in its first phase, the project is projected to create nearly 10,000 jobs - comprising 4,000 direct and 6,000 indirect opportunities - and may also include a modern ship repair facility.

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