(source : ANI) ( Photo Credit : ani)
India’s shipbuilding industry is gearing up for a major boost after Cochin Shipyard Limited (CSL) inked a key Memorandum of Understanding (MoU) with South Korea’s HD Korea Shipbuilding and Offshore Engineering (HD KSOE). This long-term partnership aims to merge CSL’s strong local expertise and infrastructure with HD KSOE’s cutting-edge technology and global know-how, helping India emerge as a top player in global shipbuilding.
The deal was sealed at the high-profile “Samudra se Samriddhi – Transforming India Maritime Sector” event in Bhavnagar, Gujarat, which Prime Minister Narendra Modi kicked off on Saturday. Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal and Minister of State Shantanu Thakur attended the signing, along with Jung Changin, senior vice president at Hyundai, and Madhu S. Nair, chairman and managing director of CSL.
Under the MoU, CSL will tap into its massive 310-meter dry dock—unveiled by the Prime Minister in January 2024—to build large ships like Suezmax tankers, container ships, and Capesize bulk carriers. The facility can handle up to six vessels a year, ramping up India’s shipbuilding capacity.
To make this happen, the partners plan a new Block Fabrication Facility (BFF) on about 80 acres in Kochi. This setup will produce 120,000 metric tons annually and requires an investment of around Rs 3,700 crore. Event organizers showcased the facility’s blueprint, highlighting how it could create 2,000 direct jobs and up to 10,000 indirect ones in areas like logistics, small businesses, supply chains, and supporting industries.
The collaboration goes beyond building ships. It includes teaming up on projects at CSL’s current sites during the early stages, while scouting new opportunities in fresh shipyard developments, skill training programs, and innovative areas. This push aligns perfectly with India’s Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047, all geared toward turning the country into a shipbuilding powerhouse.
CSL didn’t stop there. The company also signed a second MoU with Guidance, Tamil Nadu’s government agency focused on industrial growth, to build shipbuilding clusters across India. Madhu S. Nair, Guidance’s MD and CEO, and Darez Ahamed joined the signing.
As part of CSL’s expansion plans, the firm eyes a Rs 15,000 crore greenfield shipyard in Tamil Nadu, partnering with a Korean company. In its initial phase, this project could generate nearly 10,000 jobs—4,000 direct and 6,000 indirect—and might even add a state-of-the-art ship repair unit, according to the Ministry of Ports, Shipping and Waterways.
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