Cochin Shipyard, Drydocks World Dubai to Form 50:50 JV for Kochi Facility.

Kochi sets course for a stronger, globally connected ship-repair ecosystem.

Cochin Shipyard Ltd (CSL) has approved a proposal to form a 50:50 joint venture with Drydocks World-Dubai, a DP World company, to own and operate its International Ship Repair Facility (ISRF) at Willingdon Island, Kochi. Under the proposed arrangement, CSL will transfer the facility to the JV on a slump-sale basis for at least ₹1,800 crore. Half of the consideration will be received in cash, while the remaining amount will come through shares in the new JV. The partnership aims to combine CSL’s capabilities with Drydocks World’s global ship-repair expertise, advanced technology and operational practices. The JV plans to add 10 workstations, expanding capacity for complex and high-value vessel repairs. The transaction requires approvals from relevant authorities and CSL shareholders. The Joint Venture Agreement is proposed to be signed on September 11, with implementation targeted before the end of the current financial year.