Mazagon Dock Shipbuilders Limited (MDL) has acquired a 51% controlling stake in Colombo Dockyard PLC, Sri Lanka’s largest shipyard, for USD 26.8 million, marking the first international shipyard acquisition by an Indian company. This deal allows MDL to gain operational control over a four-dry-dock facility at the Port of Colombo, which can accommodate vessels up to 125,000 deadweight tonnes. Following the acquisition, Captain Jagmohan (Retd.) has been appointed as Non-Executive Chairman of CDPLC, with a restructured board that includes MDL nominees.
This strategic acquisition aligns with India’s Maritime Amrit Kaal Vision 2047, enhancing India’s maritime influence in the Indian Ocean. By securing a foothold in a vital shipping lane, MDL aims to bolster its capacity for shipbuilding and maintenance. An MoU was signed with Dredging Corporation of India, positioning CDPLC as its preferred partner for repairs. Additionally, discussions are underway with the Shipping Corporation of India to route their vessel repairs to CDPLC, establishing a supportive customer base for financial recovery.
The laying of the keel for the first vessel constructed under MDL’s ownership, CDPLC Yard No. 0263, took place on April 1, 2026, signaling an immediate operational focus as MDL seeks to advance India’s maritime self-reliance agenda.
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