Drydocks World and Cochin Shipyard Limited have formed a 50:50 joint venture to operate, consolidate and expand Kochi’s International Ship Repair Facility, creating additional capacity for Indian, regional and international vessels.
The agreement, announced on Saturday, formalises a collaboration first outlined in a memorandum of understanding signed by the two organisations during India Maritime Week 2025. The companies described the arrangement as a first-of-its-kind public-private partnership in India’s ship repair sector.
Under the agreement, Drydocks World, a DP World company, will combine its global experience in high-end vessel repair, maintenance, major conversions and offshore engineering, procurement and construction with Cochin Shipyard’s domestic shipbuilding, repair, engineering and fabrication capabilities.
The joint venture will be anchored at the International Ship Repair Facility in Kochi. The facility is strategically located along major international shipping routes and includes a ship-lift system and modern docking infrastructure capable of servicing a wide range of vessels. The companies said the expansion is intended to meet growing demand from Indian, regional and international customers.
Each partner 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 investment, additional docking capacity or a detailed construction and commissioning timeline.
Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said the partnership would strengthen India’s ship-repair ecosystem and create an opportunity for Kerala to emerge as a leading maritime services hub. He said the agreement would create new capacity, skills and economic opportunities while supporting the government’s vision of a self-reliant and globally competitive maritime sector under Maritime Amrit Kaal Vision 2047.
The venture is also expected to create opportunities across ship repair, engineering, fabrication and associated maritime services in Kerala. Cochin Shipyard chairman and managing director Jose V J said the partnership would bring global practices to the facility, accelerate turnaround times and strengthen quality and safety standards. He said the company’s ambition was to develop a repair cluster capable of attracting international fleets and generating high-skilled employment.
Drydocks World chief executive officer Rado Antolovic said the partners would combine Cochin Shipyard’s local expertise and skilled workforce with Drydocks World’s global capabilities and technology. He added that the companies saw opportunities to expand ship repair and fabrication capabilities across India beyond the Kochi facility.
The agreement also has a bilateral dimension. Omran Sharaf Alhashimi, the UAE’s assistant foreign minister for advanced science and technology, said the venture demonstrated how India-UAE economic cooperation could translate into industrial outcomes, strengthen maritime capabilities and support trade and commerce.
The companies have not yet announced further project-level details, including the expansion programme, implementation milestones or the number of vessels the enlarged facility will be able to handle. The next stage will be the operation and expansion of the International Ship Repair Facility under the newly established joint venture.
