Strategic Collaboration with Korea
Cochin Shipyard has signed a Memorandum of Understanding with HD Korea Shipbuilding and Offshore Engineering, one of the world’s largest shipbuilders, to launch a long-term strategic collaboration in shipbuilding. The move is expected to elevate India’s shipbuilding capabilities by enabling the construction of large vessels, including tankers, bulk carriers, and container ships.
The company revealed that its new 310 metre dry dock at Kochi will be central to this plan. With this facility, Cochin Shipyard aims to manufacture up to six large vessels annually, positioning itself as a significant player in the global maritime industry.
Rs 3,700 Crore Kochi Investment
As part of its expansion, Cochin Shipyard will establish a Block Fabrication Facility on 80 acres in Kochi. The investment, pegged at Rs 3,700 crore, will boost the company’s annual capacity to 1,20,000 metric tonnes. This project is expected to generate close to 2,000 direct jobs and create two to five times more indirect opportunities in allied sectors like logistics, MSMEs, and supply chain networks.
The investment aligns with India’s push for self-reliance in strategic industries and is set to position Kochi as a hub for advanced shipbuilding in South Asia.
Greenfield Shipyard in Tamil Nadu
Cochin Shipyard has also signed a second Memorandum of Understanding with Guidance, the nodal agency of the Government of Tamil Nadu. This agreement supports the government’s vision of developing shipbuilding clusters in the country.
Under this plan, the company is considering a massive Rs 15,000 crore greenfield investment to establish a state-of-the-art shipyard in Tamil Nadu with its Korean partner. The proposed project will include modern shipbuilding and repair facilities, and in its first phase alone, is expected to create nearly 10,000 direct and indirect jobs.
Boost for India’s Maritime Future
These investments not only highlight the company’s long-term strategy but also reflect the growing confidence in India’s maritime sector. With global trade and shipping demand set to rise, the expansion projects will provide India with greater capacity, advanced technology, and thousands of employment opportunities.
Industry experts see these MoUs as a major boost for India’s shipbuilding ambitions, strengthening the country’s presence in global supply chains and creating a new wave of industrial growth.
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