Drydocks World and Cochin Shipyard Limited have formed a 50:50 joint venture to operate, consolidate and expand Kochi’s International Ship Repair Facility, a move aimed at increasing capacity for Indian, regional and international vessels.
The agreement formalises the collaboration between the Dubai-based DP World company and the state-owned Cochin Shipyard after the two organisations signed a memorandum of understanding during India Maritime Week 2025. The companies described the joint venture as a first-of-its-kind public-private partnership in India’s ship repair sector.
Under the arrangement, each partner will hold a 50 per cent stake in the venture. The initial capital will be funded through equity contributions from both parties. The facility is expected to service a wider range of vessels and support work across ship repair, engineering, fabrication and associated maritime services.
The International Ship Repair Facility is strategically located along major international shipping routes. It includes a ship-lift system and modern docking facilities designed to handle different types of vessels. The joint 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.
Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said the partnership would strengthen India’s ship repair ecosystem and create new capacity, skills and economic opportunities for Kerala. He linked the initiative 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 wider India-UAE industrial dimension. Omran Sharaf Alhashimi, the UAE’s assistant foreign minister for advanced science and technology, said the venture would combine India’s maritime potential with the UAE’s global experience. He said such cooperation could support more efficient ship repair services, stronger maritime connectivity and the continued growth of trade and commerce between the two countries.
Drydocks World chief executive Rado Antolovic said the company’s ambition extended beyond the Kochi facility and included potential expansion of ship repair and fabrication capabilities across India. Cochin Shipyard chairman and managing director Jose V J said the partnership would bring global practices to the facility, with a focus on turnaround times, quality and safety.
The companies said the venture could strengthen Kochi’s position as a maritime services hub, attract international fleets and create high-skilled employment. It is also expected to support the development of a wider repair cluster in Kerala. The next stage will involve the joint venture operating and expanding the International Ship Repair Facility under the agreed equity structure.
