New Delhi/Kochi, Sep 11 (PTI) Drydocks World, a DP World company, and CSL have signed a joint venture agreement to operate and expand a ship repair facility in Kochi, officials said on Friday.
A statement issued by Cochin Shipyard Limited (CSL) on Friday said the 50:50 JV will operate and expand the International Ship Repair Facility (ISRF) in Kochi, strengthening India’s ship repair ecosystem and serving growing regional and global demand.
The agreement was signed by Captain Rado Antolovic, CEO, Drydocks World, and Jose V J, Chairman and Managing Director of CSL, on the sidelines of the BRICS Summit 2026 in Delhi in the presence of Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways and Omran Sharaf Alhashimi, UAE Assistant Foreign Minister for Advanced Science and Technology.
“The agreement builds on the Memorandum of Understanding (MoU) signed by Drydocks World (DDW) and CSL during India Maritime Week 2025, under which the two organisations agreed to explore opportunities for collaboration in ship repair and allied maritime services,” the statement said.
The companies have now formalised this collaboration through a 50:50 joint venture, marking the establishment of a first-of-its-kind public-private partnership in India’s ship repair sector, the statement said.
Under the arrangement, the joint venture will operate, consolidate and expand the ISRF, creating additional capacity to service a wider range of vessels and meet the growing requirements of Indian, regional and international customers, CSL said.
The partnership is expected to strengthen Cochin’s position as a maritime services hub, while creating opportunities across ship repair, engineering, fabrication and associated maritime services in Kerala, the statement said.
Sonowal was quoted as saying that the JV is a significant step in strengthening India’s ship repair ecosystem and a major opportunity for Keralam to emerge as a leading maritime services hub.
“By combining CSL’s expertise with Drydocks World’s global capabilities, the partnership will create new capacity, skills and economic opportunities for Keralam, while enhancing India’s maritime competitiveness. It supports our vision under Maritime Amrit Kaal Vision 2047 to build a self-reliant and globally competitive maritime sector,” Sonowal said.
Alhashimi said that UAE and India share a longstanding relationship rooted in mutual trust, economic cooperation and a common ambition to create new pathways for growth.
“The joint venture between Drydocks World and Cochin Shipyard is a strong example of how this partnership can translate into tangible industrial outcomes, bringing together complementary expertise to strengthen India’s maritime capabilities. By combining India’s growing maritime potential with the UAE’s global experience, collaborations such as this can support more efficient ship repair services, strengthen maritime connectivity and contribute to the continued growth of trade and commerce between our two countries,” he said.
Antolovic said the partnership with CSL is an important milestone for India’s ship repair industry and builds on the strong foundation of the MoU signed last year.
“Our ambition goes beyond one facility — we see opportunities to expand ship repair and fabrication capabilities across India,” he said.
Jose said the joint venture marks a defining moment in India’s journey to become a global ship repair hub.
“By combining CSL’s deep domestic experience with DDW’s world-class expertise, we are not just scaling up business — we are onboarding global best practices, accelerating turnaround times, and setting new benchmarks for quality and safety. Anchored at the ISRF in Kochi, this partnership will catalyse a thriving repair cluster, attract international fleets, generate high-skilled employment, and advance the vision of Maritime India 2030 and Amrit Kaal 2047,” he said.
The partnership combines CSL’s established shipbuilding and repair capabilities, engineering expertise and skilled workforce with Drydocks World’s global experience in high-end vessel repair and maintenance, major conversions, and offshore engineering, procurement and construction (EPC), the release said.
Strategically located along major international shipping routes, the facility features a state-of-the-art ship lift system and modern docking facilities capable of servicing a wide range of vessels, it added. PTI TBA TBA SA
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