Cochin Shipyard and Italy’s Fincantieri sign MoU

Our Bureau Mumbai | Updated on October 27, 2020

Cochin Shipyard Limited has signed a memorandum of understanding with Italy’s Fincantieri S.p.A, to collaborate on design, shipbuilding, ship repair, marine equipment manufacturing, training and skill development.

Fincantieri is one of the world’s largest shipbuilding groups operating 18 shipyards in four continents.

Fincantieri is a leader in cruise ship design and construction and a reference player in all high-tech shipbuilding industry sectors, from naval to offshore vessels, from high-complexity special vessels and mega yachts, as well as in ship repairs and conversions, production of systems and mechanical and electrical component equipment and after-sales services.

The agreement sets the ground for a strategic partnership aimed at business development for mutual benefit as well as potential indigenization in the identified areas of cooperation in line with the ‘Atmanirbhar Bharat’ and ‘Make in India’ vision of the government.

From an innovation standpoint, this agreement will kick-start the development of cutting-edge solutions in strategic advanced sectors in India, aimed at offering latest technology products both for the Indian as well as global markets, a statement from Cochin Shipyard said.

The agreement was signed by Bejoy Bhasker-- Director (Technical) of Cochin Shipyard, and Achille Fulfaro -- Senior Vice President (Sales) of Naval Vessel Business Unit, Fincantieri, through video conference on Tuesday.

Published on October 27, 2020

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