Cochin Shipyard Limited and Drydocks World, a DP World company, have formed a 50:50 joint venture to operate, consolidate and expand Kochi’s International Ship Repair Facility, a move aimed at increasing India’s capacity to service Indian, regional and international vessels.
The agreement was announced on Saturday and formalises a memorandum of understanding signed by the two companies during India Maritime Week 2025. The joint venture will combine Cochin Shipyard’s shipbuilding, repair and engineering capabilities with Drydocks World’s experience in high-end vessel maintenance, major conversions and offshore engineering, procurement and construction services.
The companies said the partnership will create additional capacity at the facility and enable it to serve a wider range of vessels. The International Ship Repair Facility is strategically located along major international shipping routes and includes a ship-lift system and modern docking facilities designed to handle different types of vessels.
Under the agreement, each company will hold a 50 per cent stake in the joint venture. Initial capital will be funded through equity contributions from both parties. The announcement did not specify the total equity commitment, the additional capacity planned or a detailed construction and commissioning timeline.
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 linked the partnership to the government’s Maritime Amrit Kaal Vision 2047 and its objective of building a self-reliant and globally competitive maritime sector.
The partnership also carries a bilateral dimension. Omran Sharaf Alhashimi, assistant foreign minister for advanced science and technology in the United Arab Emirates, said the collaboration demonstrated how India-UAE economic cooperation could translate into industrial outcomes. He said the combination of India’s maritime potential and the UAE’s global experience could support more efficient ship-repair services and strengthen maritime connectivity.
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. Cochin Shipyard chairman and managing director Jose V J said the venture would bring together domestic experience and global expertise, with a focus on turnaround times, quality and safety.
The companies said the expanded activity could create opportunities in ship repair, engineering, fabrication and associated maritime services in Kerala. Cochin Shipyard also said the facility could help attract international fleets and support the development of a wider repair cluster.
The joint venture marks what the companies described as a first-of-its-kind public-private partnership in India’s ship-repair sector. Its immediate operational priorities will be to establish the new venture, deploy the committed equity and plan the expansion of the International Ship Repair Facility. Further details on investment, implementation milestones and added docking capacity were not provided in the announcement.
