Drydocks World, Cochin Shipyard JV Boosts India Ship Repair

New Delhi, Sep 11 (PTI) Drydocks World, a DP World group company, and Cochin Shipyard Limited (CSL) on Friday announced the signing of a joint venture agreement to operate and expand the Cochin ship repair facility.

DP World, in a statement, said the 50:50 joint venture will operate and expand the International Ship Repair Facility (ISRF) in Cochin, strengthening India's ship repair ecosystem and serving growing regional and global demand.

A Shipping Ministry official said that both Drydocks World and CSL will invest Rs 900 crore each in the project.

The agreement was signed by Captain Rado Antolovic, PhD, CEO, Drydocks World, and Jose V J, Chairman & Managing Director of Cochin Shipyard Ltd, on the sidelines of the BRICS Summit 2026 in New Delhi, in the presence of Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways (MoPSW), and Omran Sharaf Alhashimi, UAE Assistant Foreign Minister for Advanced Science and Technology.

The agreement builds on the Memorandum of Understanding (MoU) signed by Drydocks World (DDW) and CSL during India Maritime Week 2025, under which the two organisations agreed to explore opportunities for collaboration in ship repair and allied maritime services.

According to the statement, under the arrangement, the joint venture will operate, consolidate and expand the International Ship Repair Facility (ISRF) in Cochin, creating additional capacity to service a wider range of vessels and meet the growing requirements of Indian, regional and international customers.

The partnership is expected to strengthen Cochin's position as a maritime services hub, while creating opportunities across ship repair, engineering, fabrication and associated maritime services in Kerala, it said.

Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways, said: "This joint venture is a significant step in strengthening India's ship repair ecosystem and a major opportunity for Kerala to emerge as a leading maritime services hub..


By combining Cochin Shipyard's expertise with Drydocks World's global capabilities, Sonowal said the partnership will create new capacity, skills and economic opportunities for Kerala, while enhancing India's maritime competitiveness.

Omran Sharaf Alhashimi, Assistant Foreign Minister for Advanced Science and Technology, UAE, said, "The UAE and India share a longstanding relationship rooted in mutual trust, economic cooperation and a common ambition to create new pathways for growth. "

The joint venture between Drydocks World and Cochin Shipyard is a strong example of how this partnership can translate into tangible industrial outcomes, bringing together complementary expertise to strengthen India's maritime capabilities, he added.

Captain Rado Antolovic, PhD, CEO, Drydocks World, said that this partnership with Cochin Shipyard is an important milestone for India's ship repair industry and builds on the strong foundation of our MoU last year.

"By combining Cochin Shipyard's local expertise and skilled workforce with Drydocks World's global capabilities and technology, we are creating a world-class ship repair offering," he added.

Jose V J, Chairman and Managing Director, Cochin Shipyard Ltd, said that this joint venture with Drydocks World Dubai marks a defining moment in India's journey to become a global ship repair hub.

"By combining CSL's deep domestic experience with DDW's world-class expertise, we are not just scaling up business - we are onboarding global best practices, accelerating turnaround times, and setting new benchmarks for quality and safety," he added.

Strategically located along major international shipping routes, the facility features a state-of-the-art ship lift system and modern docking facilities capable of servicing a wide range of vessels. Drydocks World and Cochin Shipyard Ltd. will each hold a 50% stake, with initial capital funded through equity contributions from both parties.