Cochin Shipyard Ltd. and Drydocks World Sign 50:50 Joint Venture Agreement

Cochin Shipyard Limited (CSL) and Drydocks World have come together to form a 50:50 joint venture aimed at strengthening India's ship repair industry. On 11 September 2026, the agreement was signed on the sidelines of the BRICS Summit 2026 in Delhi and marks an important step in expanding maritime infrastructure at Kochi.

First-of-its-Kind Public-Private Partnership

This joint venture is being described as a first-of-its-kind public-private partnership in India's ship repair sector. It builds upon an earlier MoU signed during India Maritime Week 2025, which laid the groundwork for cooperation between the two companies. The new agreement now formalises this collaboration, bringing together a government shipyard and a globally experienced private player to jointly manage a key maritime facility in Kerala.

How Will the Cochin Shipyard-Drydocks World Joint Venture Benefit India?

1. Under this arrangement, the venture will operate and expand the International Ship Repair Facility in Kochi, enabling it to service a larger variety of vessels.
2. This move is expected to boost Kochi's standing as a maritime hub while generating fresh opportunities in ship repair, engineering, and fabrication across Kerala. 
3. Officials highlighted that combining CSL's domestic expertise with Drydocks World's international experience will help create new jobs, improve turnaround times, and support India's broader maritime goals under Maritime India 2030 and Amrit Kaal 2047. 
4. The partnership is also seen as strengthening economic ties between India and the UAE.

About Cochin Shipyard Limited (CSL)

Cochin Shipyard Limited is a Government of India enterprise set up in 1972 under the Ministry of Ports, Shipping and Waterways. It is one of India's leading shipbuilding and repair companies, with facilities spread across Kochi, Mumbai, Kolkata, the Andaman & Nicobar Islands, and Udupi.

About Drydocks World

Drydocks World, a DP World company with over four decades of experience, is a major service provider for the maritime, offshore energy, and renewable energy sectors. Based near Dubai's Port Rashid, it is known for ship repair, vessel conversions, and offshore construction, and is increasingly involved in advancing offshore wind energy solutions.