Cochin Shipyard Plans New Shipbuilding Facility to Boost India’s Maritime Capacity

Cochin Shipyard Ltd. is planning to establish a new shipbuilding facility at Cochin Port with international support. This move aligns with the industry’s overall goal of increasing capacity following budget recommendations to boost the sector. To enhance India’s ship repair capabilities and position Kochi as a regional maritime hub, Cochin Shipyard has already launched an international ship repair facility at Willingdon Island within Cochin Port, valued at Rs 970 crore. The expansion will involve leasing a portion of the port’s valuable property to Cochin Shipyard, which is essential for its growth plans.

The proposed shipbuilding facility at Cochin Port would be owned by Cochin Shipyard but developed in collaboration with foreign partners. This development follows the recent commissioning of a Rs 1,799 crore dry dock, the third one for the shipyard, allowing for the construction of large vessels like LNG carriers, Capesize and Suezmax ships, oil rigs, and semi-submersibles. India’s shipbuilding industry urgently needs to expand its capacity, as major players in China, South Korea, and Japan are fully booked until 2028. Indian yards are currently focusing on defense contracts and environmentally friendly vessels to attract global fleet owners.

To advance shipyard development and overcome land acquisition challenges, the government is leveraging land at major and non-major ports. For instance, Deendayal Port Authority in Gujarat is seeking to lease 2,000 acres to establish an integrated shipbuilding cluster under a public-private partnership model. Cochin Port’s new shipbuilding facility would offer strategic benefits by facilitating the import of raw materials and improving supply chain efficiency. The government’s efforts to rejuvenate the sector have attracted interest from key shipbuilders in South Korea and Japan, who are exploring investment opportunities in India’s growing maritime industry.

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