This marks the first international venture of MDL and is the main landmark of the company’s change in a regional maritime player with full domestic shipbuilder with global aspirations, the statement said.
Strategically located inside the Colombo port, the CDPLC offers the MDL a strong operational foot in the Indian Ocean area-the busiest and most geographically significant maritime corridor in the world.
Mazagon Dock Shipbuilders Limited, headquartered in Mumbai, is India’s leading defense PSU, a builder of frontline war ships and submarines and has played a key role in the country’s naval modernization.
The Colombo Dockyard PLC, listed in the Colombo Stock Exchange, is the Sri Lankan maritime industry and serves a wide spectrum of commercial and government customers in Asia, the Middle East and Africa.
“India’s public sector shipyard, Mazagon Dock Shipbuilders Limited (MDL) has taken a significant step in its strategic evolution with the approval of the proposed acquisition of the controlling stake in Sri Lanka’s largest and most established shipyard, Colombo Dockard Plc (CDPLC).
“Investments worth up to $99 million, the current majority shareholder, the acquisition of the shares of the onomychi Dockard Co. Limited will be done by combining the primary motivation and secondary stock,” the statement said.
Upon completion, the Rs OMA will be a subsidiary of the CDPLC MDL, subject to regulatory approvals and closed conditions.
This step assumes the importance amid the increasing determination of Chinese in the Indian Ocean area and its presence in the neighborhood of India.
“This is not just an edit – it’s a gateway. It marks our first international raid and reflects our ambition to change the global shipbuilding enterprise. Director, “
Colombo Dockyard PLC brings MDL experience over five decades of shipbuilding, ship repair and heavy engineering. The company has a track record for delivering complex SH Fashore support ships, cable-laid ships, tankers and petrol boats for customers in Japan, Norway, France, UAE, India and many African countries. It is the only shipyard in Sri Lanka that offers a unified portfolio of services-ranging from home design and construction to advanced repair and marine steel forged.
CDPLC runs four dry Ocks Q and multiple berths that are capable of handling ships up to 125,000 WT and maintain adherence to ISO and classification standards like DNV, Lloyd, ABS and IRS.
In addition to its technical power, the CDPLC is actively carrying out a pipeline of orders over $ 300 million, including cable laying ships, multi-parse utility ships and Newbield fleet support ships.
In the MDL technol sharing G sharing, the access to Indian supply chains, with access to cess and Indian and allied maritime markets, is in a good position for financial turnaround and long -term development, the statement said.
Editing imagines India’s emergence as a leading maritime power with strong regional integration and industrial dysfunctional abilities. The statement also states that it also supports MDL’s widespread vision to promote maritime self-reliance, promote regional cooperation, and anchor in Indian skills to create a competitive, multi-location shipbuilding enterprise.
(Now you can subscribe to our Etmarkets WhatsApp channel)
