Mazagon Dock Shipbuilders Ltd, India’s largest warship builder, has acquired a 51% controlling stake in Sri Lanka’s Colombo Dockyard PLC for ₹452 crore in an all-cash deal—marking the first overseas acquisition by an Indian shipyard.
This strategic move not only strengthens India’s maritime presence but also grants Mazagon Dock access to a full-fledged engineering workshop being developed by Colombo Dockyard at the Chinese-run Hambantota Port. Operated by China Merchants Group, Hambantota is located along a major global shipping route, enhancing afloat repair capabilities and maritime services. The acquisition, involving both primary and secondary transactions, positions Colombo Dockyard as a subsidiary of Mazagon Dock and promises operational synergies, R&D collaboration, and expanded market access. Colombo Dockyard, Sri Lanka’s top shipyard, operates four dry docks and specializes in shipbuilding, repairs, and heavy engineering. The deal mirrors India's strategic port investment model, similar to Adani Ports’ involvement in Colombo Port’s container terminal development.