SECTOR
Cochin Shipyard inks joint venture agreement with Drydocks World Dubai – FZCO
Sep-15-2026

Cochin Shipyard has executed the joint venture agreement with Drydocks World Dubai – FZCO (DDW), a DP World Company. Earlier, the Board of Directors of the company at its meeting held September 09, 2026 had approved the proposal for forming the said joint venture. 

The joint venture will be formed as a private limited company (JVCo.). The JVCo. will own, operate and manage the International Ship Repair Facility (ISRF) of the company at Willingdon Island, Kochi for undertaking dry-docking, maintenance, repair and overhaul of commercial and naval vessels below 130 meters of length and 6,000-tonne weight. Further, the joint venture also envisages capacity augmentation of the ISRF through the addition of ten workstations.

Both the companies will be equal partners in the JVCo. holding 50% each in the share capital of the JVCo. The ISRF shall be transferred to the JVCo. on a slump sale basis as a going concern for a consideration of not less than Rs 1,800 crore. The company shall receive 50% of the consideration in cash and the remaining 50% in the form of shares of the JVCo. The joint venture is proposed to leverage the complementary strengths, expertise and capabilities of the company and DDW in the ship repair sector. It is expected to create synergies between the two entities and facilitate the adoption of global best practices, advanced technologies and efficient processes in the domestic ship repair ecosystem, thereby improving the quality, efficiency and turnaround time of ship repair services

Cochin Shipyard is the first Greenfield and presently the most modern shipbuilding and ship repair yard in India.

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