India’s Cochin Shipyard Limited (CSL) and HD Korea Shipbuilding and Offshore Engineering have signed a memorandum of understanding (MoU) for long-term strategic collaboration in shipbuilding, a statement issued by India’s ministry of ports, shipping and waterways said on Thursday, September 25.
The partnership will combine Cochin Shipyard's legacy, infrastructure and domestic expertise with KSOE's advanced technology and global experience, the ministry said.
Under the MoU, Cochin Shipyard's 310-meter new dry dock will be utilized to construct large vessels such as Suezmax tankers, container ships and capesize bulk carriers with a capacity of up to six vessels annually, it added.
A dedicated block fabrication facility (BFF) is planned at Kochi on around 80 acres, with an annual capacity of 120,000 mt at an investment of $417 million to support it.
"The collaboration will also focus on joint execution of shipbuilding projects at CSL’s existing facilities during the transition phase, while simultaneously exploring opportunities in new business areas, greenfield shipyards, and skill development," the ministry said.