Cochin Shipyard Limited and DP World company Drydocks World have signed a 50:50 joint venture to operate and expand the International Ship Repair Facility in Cochin.
The government says the partnership is intended to strengthen India's ship-repair ecosystem and serve growing regional and global demand. The agreement was signed on the sidelines of the BRICS summit.
Ship repair is strategically important because India sits close to major shipping routes but captures only a limited share of global repair and maintenance business. Building larger repair capacity can support maritime services, jobs and domestic shipping capability.
