Cochin Shipyard and Drydocks World Form 50:50 Joint Venture to Expand Kochi Ship Repair Facility

Key facts

• Dubai-headquartered Drydocks World, a DP World company, and Cochin Shipyard Ltd (CSL) have formed a 50:50 joint venture to operate and expand the International Ship Repair Facility (ISRF) in Kochi, with each partner holding a 50% stake and investing ₹900 crore.
• The ISRF was commissioned in 2024, and the joint venture will consolidate and expand the facility to service a wider range of vessels for Indian, regional and international customers.
• The agreement formalizes a partnership first outlined in a memorandum of understanding signed by the companies during India Maritime Week 2025.
• The agreement was signed by Drydocks World chief executive Captain Rado Antolovic and CSL chairman and managing director Jose V J on the sidelines of the BRICS summit in New Delhi, in the presence of Union Minister Sarbananda Sonowal and UAE assistant foreign minister Oman Sharaf Alhashimi.
• The venture is described as a first-of-its-kind public-private partnership in India's ship-repair sector.