Indian shipbuilding major Cochin Shipyard has incorporated a joint venture, Hooghly Cochin Shipyard, with Hooghly Dock & Port Engineering for the upgrade and modernisation of shipbuilding infrastructure at two shipyard sites in Salkia and Nazirgunge of Kolkata.
Cochin Shipyard and Hooghly Dock & Port Engineering will have 76% and 24% equity in the jv respectively.
Cochin Shipyard plans to upgrade Hooghly Dock’s infrastructure and use the yard for the construction of vessels for inland river transport.
In September, Cochin Shipyard announced plans to establish shipbuilding and repair facilities across India under its major expansion plan following the shipyard launched its IPO in August.
