At an estimated cost of Rs 3,700 crore, Cochin Shipyard would establish a specialized Block Fabrication Facility (BFF) in Kochi, spanning 80 acres, with an annual capacity of 1.20 lakh MT, to support the shipbuilding plans for the Korean Memorandum of Understanding.
According to a corporate filing on September 23, Cochin Shipyard and HD Korea Shipbuilding & Offshore Engineering (HD KSOE) have inked a contract for a long-term shipbuilding partnership.
Additionally, the Indian PSU is thinking about building a shipyard in Tamil Nadu that would cost Rs 15,000 crore and create 10,000 jobs.
“CSL is thinking of making a greenfield investment of around Rs 15,000 crore to build a cutting-edge shipyard in Tamil Nadu in partnership with a Korean partner as part of its long-term expansion plan. According to Cochin Shipyard, the project is expected to generate around 10,000 employment in its first phase, including 4,000 direct and 6,000 indirect jobs. It may also contain a state-of-the-art ship repair facility.
In order to establish shipbuilding clusters, CSL and Tamil Nadu have also inked an MOU. The collaboration will enhance India’s shipbuilding capabilities by fusing HD KSOE’s technology and international knowledge with CSL’s infrastructure and experience.
Along with exploring prospects in new sectors including greenfield shipyards and talent development, Cochin Shipyard will also work with CSL on collaborative shipbuilding projects at its current sites.
At an estimated cost of Rs 3,700 crore, Cochin Shipyard would establish a specialized Block Fabrication Facility (BFF) in Kochi, spanning 80 acres, with an annual capacity of 1.20 lakh MT, to support the shipbuilding plans for the Korean Memorandum of Understanding. In businesses including logistics, MSMEs, supply chains, and auxiliary industries, this project might create around 2,000 direct jobs and a significant amount of indirect employment “estimated at 2-5 times higher.”
Large ships including Suezmax tankers and bulk carriers will be built on one of the Cochin Shipyard’s dry docks, which was opened in 2024 and can accommodate up to six ships annually. As New Delhi prepares to establish a global shipbuilding center, the PSU said that the Memorandum of Understanding with Korea would promote Maritime India Vision (MIV) 2030 and Maritime Amrit Kaal Vision (MAKV) 2047.
By 2030, the government wants to have a 5% market share in shipbuilding worldwide and establish ten top-tier shipyards with the help of international cooperation and public-private partnerships.
Shipbuilding is more than simply a business; it is a representation of the power and independence of a country. Shantanu Thakur, the Minister of State for Ports, Shipping, and Waterways, has said, “Our goal is to make India not only a player, but a leader in sustainable shipbuilding, supporting green development, the blue economy, and Atmanirbhar Bharat.”
The Union Cabinet is anticipated to approve a proposal shortly to launch a Rs 70,000-crore funding package for port infrastructure, shipbuilding, and ship maintenance.