Mazagon Dock in Talks to Acquire Majority Stake in Colombo Dockyard to Enhance India’s Maritime Presence
Mazagon Dock Shipbuilders Ltd (MDL) is advancing towards acquiring a 51% stake in Colombo Dockyard PLC, which is currently facing financial difficulties. The deal, expected to formalize with a Memorandum of Understanding soon, aims to strengthen India’s maritime position while addressing job security concerns among trade unions amid potential management changes.