Cochin Shipyard's Ambitious Expansion with Korean Partnership

Cochin Shipyard Ltd (CSL) has announced an ambitious plan to invest around Rs 15,000 crore in establishing a state-of-the-art shipyard in Tamil Nadu. This project will be in collaboration with a Korean partner, as confirmed by an official statement on Tuesday.

The initial phase of this greenfield venture is projected to generate approximately 10,000 employment opportunities, divided into 4,000 direct and 6,000 indirect jobs. It may also feature a contemporary ship repair facility. CSL has signed a memorandum of understanding (MoU) with Guidance, the Government of Tamil Nadu's nodal agency, aligning with India's vision for creating shipbuilding clusters.

Additionally, CSL has partnered through an MoU with HD Korea Shipbuilding & Offshore Engineering (HD KSOE) to enhance its shipbuilding with advanced technology and international experiences. This collaboration underscores a pivotal development in India's shipbuilding landscape. Meanwhile, a Block Fabrication Facility is planned in Kochi, expected to generate significant employment and economic activity.

(With inputs from agencies.)