The Kochi ship repair facility is set for expansion after Drydocks World, a DP World company, and Cochin Shipyard Limited signed a 50:50 joint venture agreement to operate, consolidate and expand the International Ship Repair Facility (ISRF) in Kerala. The partnership is intended to add capacity for Indian, regional and international vessel customers.
The agreement formalises a collaboration first outlined in a memorandum of understanding signed by the two organisations during India Maritime Week 2025. Under the new arrangement, Drydocks World and Cochin Shipyard will each hold a 50 per cent stake in the joint venture, with the initial capital to be funded through equity contributions from both parties.
The companies said the venture will combine Cochin Shipyard’s shipbuilding and repair capabilities, engineering expertise and skilled workforce with Drydocks World’s experience in high-end vessel repair and maintenance, major conversions and offshore engineering, procurement and construction services.
Located along major international shipping routes, the International Ship Repair Facility has a ship-lift system and modern docking facilities capable of servicing a wide range of vessels. The expansion is expected to strengthen Kochi’s position as a maritime services hub and create opportunities in ship repair, engineering, fabrication and associated maritime services in Kerala.
Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said the joint venture would strengthen India’s ship repair ecosystem and create new capacity, skills and economic opportunities for Kerala. He also linked the partnership to the government’s vision under Maritime Amrit Kaal Vision 2047 for a self-reliant and globally competitive maritime sector.
The agreement also brings together Indian and UAE maritime capabilities. Omran Sharaf Alhashimi, assistant foreign minister for advanced science and technology, UAE, described the venture as an example of India-UAE economic cooperation translating into an industrial outcome. He said the partnership could support more efficient ship repair services, strengthen maritime connectivity and contribute to trade and commerce between the two countries.
Rado Antolovic, chief executive officer of Drydocks World, said the company’s ambition extended beyond the Kochi facility and included opportunities to expand ship repair and fabrication capabilities across India. Jose V J, chairman and managing director of Cochin Shipyard, said the partnership would combine domestic experience with global expertise, with the stated aim of improving turnaround times, quality and safety.
The companies have not disclosed the additional capacity, investment size, implementation schedule or detailed operating structure for the expanded facility. The next phase will depend on the joint venture’s equity funding, operational arrangements and plans for consolidating and expanding the International Ship Repair Facility.
