Cochin Shipyard is strengthening its capabilities in the ship building sector, signing a string of memorandum of understandings (MOU) at the India Maritime Week in Mumbai.
Key among those has been a letter of intent that was signed with global shipping major CMA CGM to build six 1,700 TEU LNG dual fuel vessels.
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Some of the major South Korean companies will be supporting it on the gas fuel systems and other critical equipment on these vessels, according to Madhu Nair, the MD of Cochin Shipyard.
"We are seeing global cooperation at its best to take things forward," he said.
Sarbananda Sonowal, the Union minister for ports, shipping and waterways, says this LOI is a sign of confidence reposed in the ship building capabilities of the country by one of the leading global shipping companies.
"This is also the result of the ship building ecosystem, which is being created in India as a result of the path breaking policy, financial and legislative initiatives taken by the nation," he said.
Apart from the LOI signed with CMA CGM, Cochin Shipyard is also planning to set up a new ship repair ecosystem in partnership with the Deendayal Port Authority, Kandla, Gujarat.
Under the partnership, plans are to set up a ship repair cluster at Vadinar, with a total investment of Rs 1,570 crore.
An MOU has also been signed between Cochin Shipyard and Dredging Corporation of India for the construction of dredgers. The total investment here is estimated to be around Rs 3,000 crore.
MOUs were also signed between the two organisations whereby Dredging Corporation vessels would be repaired at Cochin Shipyard facilities and Dredging Corp will conduct annual maintenance dredging at various Cochin Shipyard areas.
Cochin Shipyard is also likely to repair vessels of JSW Shipping and Logistics at its facilities.
Separately, a Rs 300 crore MOU has also been signed with Heritage Rivers Journey, which operates river cruises under the Antara brand, for the construction and repairs of river cruise vessels.
"We are today building two luxury cruise vessels from our Kolkata shipyard. It would be built and deployed in our Indian rivers," Nair further said.
One of the top companies in the world is expected to operate these luxury vessels, he noted.