Cochin Shipyard Inks MoUs With HD Korea, Tamil Nadu Govt Agency for Shipbuilding Projects

Cochin Shipyard Ltd. on Tuesday said it has signed two memoranda of understanding to expand its shipbuilding operations.
The company signed an MoU on Saturday with HD Korea Shipbuilding & Offshore Engineering Co. to jointly construct large vessels such as Suezmax tankers, container ships, and Capesize bulk carriers. The companies will use Cochin Shipyard’s 310-metre dry dock, with capacity to build up to six vessels annually. 

A block fabrication facility will also be set up in Kochi at an investment of ₹37 billion, spread across 80 acres with an annual capacity of 120,000 tonnes. The project is expected to generate about 2,000 direct jobs.

Separately, Cochin Shipyard signed an MoU with Guidance, the nodal agency of the Tamil Nadu government, to develop shipbuilding clusters. As part of this, the company is considering a greenfield investment of ₹150 billion to set up a shipyard in Tamil Nadu with a Korean partner. The first phase may include a modern ship repair facility and is expected to create 4,000 direct jobs and 6,000 indirect jobs.