Mazagon Dock Shipbuilders Expands Global Footprint with Colombo Dockyard Acquisition

Mazagon Dock Shipbuilders Ltd (MDL) announced plans to acquire a controlling stake in Colombo Dockyard PLC (CDPLC), Sri Lanka's premier shipyard, for up to USD 52.96 million. This deal marks MDL's first international foray, signaling its ambition to transform from a domestic player to a regional maritime force.

Strategically located at the Port of Colombo, CDPLC provides MDL with access to key maritime routes in the Indian Ocean. The acquisition aligns with India's Maritime Amrit Kaal Vision 2047, aiming to bolster regional maritime influence and extend MDL's global reach.

Post-acquisition, CDPLC will operate as a subsidiary, enhancing MDL's shipbuilding and repair capabilities. With a turnover of LKR 25,447 million in 2024, CDPLC is listed on the Colombo Stock Exchange. MDL anticipates completion of the acquisition within six months, pending regulatory approvals.

(With inputs from agencies.)