Indian prime minister Narendra Modi is in Kochi today for the inauguration of a 310 m long new dry dock plus a brand new ship repair facility at Cochin Shipyard.
Sarbananda Sonowal, India’s minister of ports, shipping and waterways, claimed: “Cochin is going to become one of the most important hubs of ship repair and shipbuilding.”
State-owned Cochin Shipyard, which can now boast the largest ship repair facilities in South Asia, has laid out plans to double turnover within four years.
Currently outside the top 10 shipbuilding nations globally with a market share of less than 1%, India’s prime minister is aiming to make his country a top five shipyard hub.
Addressing the Global Maritime India Summit 2023 last October, Modi said: “In the next decade, India will become one among the top five shipbuilding and repairs nations of the world.”
Good progress and returns in this PSU sector Cochin shipyard.