In its efforts to create world-class maintenance and repair facilities, Drydocks World, a DP World company, and Cochin Shipyard Ltd will jointly evaluate opportunities for developing ship repair clusters in Kochi and Vadinar in Gujarat.
The partnership will play a crucial role in modernising India’s maritime infrastructure, expanding the ship repair industry and generating new employment opportunities. The collaboration will explore opportunities to develop ship repair clusters along India’s coastline leveraging the expertise of both organisations, said a press release.
The two companies signed an MoU in this regard to bring in global best practices to the ship repair ecosystem in the country and add significant capacities. The MoU also provides for cooperation in potential offshore fabrication opportunities engaging other entities like major ports.
The companies will jointly evaluate opportunities for engaging with government entities such as major ports to enhance ship repair and offshore fabrication capabilities; expanding collaboration into related areas such as marine engineering and strategic infrastructure projects.
Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer of DP World, said: “With a vast coastline and world-class ports, India is well positioned to become a global maritime hub. The partnership with Cochin Shipyard will accelerate the development of cutting-edge ship repair and fabrication facilities, playing an important role in achieving this goal”.
Madhu S Nair, Chairman and Managing Director, Cochin Shipyard Limited, said, “we join hands with Drydocks World to take ship repair and conversions in India to the next level. The MoU marks the beginning of our effort at strategic collaboration aimed at leveraging the mutual strengths of two organisations”.