Cochin Shipyard, Drydocks World form JV to build India’s first ship repair cluster in Kochi

By Admin

04 Nov, 2025

A Landmark Collaboration for India’s Maritime Growth
In a significant boost to India’s maritime sector, state-run Cochin Shipyard Ltd (CSL) has entered into a 50:50 joint venture with Dubai-based Drydocks World, part of the DP World group, to establish the country’s first-ever ship repair cluster in Kochi, Kerala. This visionary project will be developed at the International Ship Repair Facility (ISRF), marking a milestone in India’s pursuit of maritime self-reliance under the Maritime India Vision 2030.

Agreement Signed at India Maritime Week 2025
The strategic collaboration was formalized on October 29, 2025, during the India Maritime Week held in Mumbai, through the signing of an Agreement of Heads of Terms. Unlike traditional public sector undertakings, this cluster will operate as a non-government joint venture, designed to ensure quicker decision-making and improved operational flexibility  key to competing globally.

A Model of Global-Local Synergy
Modelled on the Petronet LNG structure, the partnership merges Cochin Shipyard’s domestic expertise with Drydocks World’s international experience in ship repair and maintenance. Together, they aim to transform Kochi into a regional maritime hub, capable of servicing vessels from across the globe.

“Leveraging our complementary strengths, we aim to elevate India’s ship repair and maintenance standards to global benchmarks,” stated Madhu Nair, Chairman and Managing Director of Cochin Shipyard. Rado Antalovic, CEO of Drydocks World, added that the partnership would create “an advanced ship repair ecosystem built on efficiency, sustainability, and innovation.”

ISRF: The Heart of the Cluster
The ₹1,000-crore ISRF facility, spread across 8.12 hectares on Willingdon Island, leased from the Cochin Port Authority, serves as the foundation for this project. It features a 6,000-tonne ship lift and transfer system, a 1,350-metre wet berth, and comprehensive maritime support infrastructure. Operational since August 2024, the facility is now poised to anchor India’s first ship repair cluster, enhancing the nation’s capacity to service both domestic and international fleets.

Boosting India’s Maritime Competitiveness
India’s ship repair and maintenance market, growing at 8–10% annually, currently faces challenges such as limited facilities and longer turnaround times. As a result, the nation loses over 30% of potential repair business to foreign drydocks. The Cochin JV aims to reverse this trend by offering world-class facilities, faster turnaround, and sustainable operations, thereby positioning India as a global maritime repair hub.

A Vision for the Future
This partnership not only marks a major step in maritime infrastructure development but also aligns with India’s ambition to expand its blue economy and reduce dependency on overseas services. The Cochin Shipyard–Drydocks World collaboration represents a bold move toward global maritime leadership, showcasing India’s readiness to compete at the highest levels of innovation, efficiency, and sustainability.