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Cochin Shipyard and Drydocks World Form 50:50 Joint Venture to Expand International Ship Repair Facility
On the sidelines of the BRICS Summit in Kochi, a historic partnership was inked on September 11 2026. Cochin Shipyard Ltd. (CSL) and UAE‑based Drydocks World, a DP World company, signed a 50:50 joint‑venture agreement to operate and expand the International Ship Repair Facility (ISRF) at Cochin. The ceremony was witnessed by Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal and UAE Assistant Foreign Minister for Advanced Science and Technology Omran Sharaf Alhashimi.
The ISRF, commissioned in January 2024, sits on Willingdon Island and can service vessels up to 6,000 tonnes. The facility features a 130 m × 25 m ship lift with a 6,000‑tonne capacity and six workstations. Its construction cost was roughly ₹2,769 crore, adding about a quarter to CSL’s ship‑repair capacity.
This joint venture follows a memorandum of understanding signed during India Maritime Week 2025, which explored cooperation in ship repair and allied maritime services. The Ministry of Ports, Shipping and Waterways described the new partnership as the first public‑private collaboration of its kind in India’s ship‑repair sector.
Under the agreement, CSL and Drydocks World will each hold a 50 % stake. Initial capital will be supplied through equity contributions from both partners. The venture will consolidate and expand the ISRF, creating additional capacity to service a broader range of vessels and to meet the growing demand of Indian, regional and international customers.
The Ministry’s statement said the partnership would combine India’s expanding ship‑building and repair capabilities with the UAE’s global maritime expertise, generating new capacity, skills and economic opportunities. Sonowal noted that the collaboration would strengthen Cochin’s position as a maritime services hub and create opportunities in ship repair, engineering, fabrication and allied services across Kerala.
Drydocks World CEO Rado Antolovic said the venture would merge CSL’s local expertise and skilled workforce with Drydocks World’s global capabilities and technology, and that the companies see opportunities to expand ship‑repair and fabrication capabilities beyond the Cochin facility.
Strategically located along major international shipping routes, the ISRF’s modern docking facilities and lift system enable it to handle a wide variety of vessels. The joint venture is expected to enhance India’s ship‑repair infrastructure, support the country’s ambition to become a global maritime services hub, and set a precedent for future public‑private collaborations in the sector.
The joint venture will be implemented after incorporation of the new company and receipt of the required regulatory approvals. No further financial terms or timelines beyond the equity contributions have been disclosed.
The partnership marks a significant step in India’s maritime strategy, aligning with national policy objectives to boost domestic ship‑repair capacity and attract international business. The joint venture’s success will depend on regulatory clearance, operational integration, and the ability to scale the ISRF’s capacity to meet evolving market demands.
The ISRF, commissioned in January 2024, sits on Willingdon Island and can service vessels up to 6,000 tonnes. The facility features a 130 m × 25 m ship lift with a 6,000‑tonne capacity and six workstations. Its construction cost was roughly ₹2,769 crore, adding about a quarter to CSL’s ship‑repair capacity.
This joint venture follows a memorandum of understanding signed during India Maritime Week 2025, which explored cooperation in ship repair and allied maritime services. The Ministry of Ports, Shipping and Waterways described the new partnership as the first public‑private collaboration of its kind in India’s ship‑repair sector.
Under the agreement, CSL and Drydocks World will each hold a 50 % stake. Initial capital will be supplied through equity contributions from both partners. The venture will consolidate and expand the ISRF, creating additional capacity to service a broader range of vessels and to meet the growing demand of Indian, regional and international customers.
The Ministry’s statement said the partnership would combine India’s expanding ship‑building and repair capabilities with the UAE’s global maritime expertise, generating new capacity, skills and economic opportunities. Sonowal noted that the collaboration would strengthen Cochin’s position as a maritime services hub and create opportunities in ship repair, engineering, fabrication and allied services across Kerala.
Drydocks World CEO Rado Antolovic said the venture would merge CSL’s local expertise and skilled workforce with Drydocks World’s global capabilities and technology, and that the companies see opportunities to expand ship‑repair and fabrication capabilities beyond the Cochin facility.
Strategically located along major international shipping routes, the ISRF’s modern docking facilities and lift system enable it to handle a wide variety of vessels. The joint venture is expected to enhance India’s ship‑repair infrastructure, support the country’s ambition to become a global maritime services hub, and set a precedent for future public‑private collaborations in the sector.
The joint venture will be implemented after incorporation of the new company and receipt of the required regulatory approvals. No further financial terms or timelines beyond the equity contributions have been disclosed.
The partnership marks a significant step in India’s maritime strategy, aligning with national policy objectives to boost domestic ship‑repair capacity and attract international business. The joint venture’s success will depend on regulatory clearance, operational integration, and the ability to scale the ISRF’s capacity to meet evolving market demands.
