Swan Defence and Heavy Industries, which operates the largest shipyard in India, is looking at more tie-ups and partnerships in a bid to tap opportunities in the shipbuilding space.
Swan Defence had acquired the erstwhile Reliance Naval and Engineering after the National Company Law Tribunal had approved its acquisition plan.
🔶At #IMW2025 in Mumbai, #MDL signed a *Teaming Agreement* with Swan Defence and Heavy Industries to collaborate on the design and construction of Landing Platform Docks for the Indian Navy. This strategic partnership reinforces #AatmanirbharBharat through a strong public–private… pic.twitter.com/Ed3njIlK94
— Mazagon Dock Shipbuilders Limited (@MazagonDockLtd) October 28, 2025
Since the acquisition, Swan Defence has invested around $250 million in the refurbishment of the facility at the Pipavav Port in Gujarat, Vivek Merchant, the company's director, said on Tuesday.
"We have refurbished the entire facility, it's spread across about 650 acres of land. We have about 30 per cent of India's (shipbuilding) capacity," Merchant said.
Swan plans to invest another $500 million over the next few years as it looks to expand capacities and strengthen capabilities, he added.
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"We have increased capacity by 20,000 tonnes per annum already. And now we look at more of cluster setup at the shipyard. We want to partner with ancillary industries to set up shop in the shipyard," Merchant said.
On Tuesday, Swan Defence and Mazagon Dock Shipbuilders signed a Memorandum of Understanding (MoU) for landing platform docks for the Indian Navy. The MOU was signed at the India Maritime Week 2025.
"Its a marriage between capacity and capability. Swan Defence is having the largest dry dock in the country and Mazagon Dock has long legacy of building ships. We can leverage complementary strengths and develop a win-win scenario for mutual benefit," said Biju George, Director - Shipbuilding, at Mazagon Dock.
The partnership marks Swan's first significant step in the defence shipbuilding sector, said Merchant.
#NitinGadkari used the example of the National Highways Authority of India's (#NHAI) funding model to highlight that the #maritime sector also needed viable capital support. #IndiaMaritimeWeek2025 #maritimenews https://t.co/vwJvCzBJ9T
— THE WEEK (@TheWeekLive) October 27, 2025
Swan Defence has already begun ship repair at its facilities, and it hopes to start shipbuilding in the coming months.
"We can build any kind of ship. We are looking at containers, bulkers, chemical tankers—defence across sectors," said Merchant.
Swan Defence has recently signed an agreement with Samsung Heavy Industries, a major South Korean shipbuilder, to jointly explore commercial shipbuilding and heavy engineering projects. Swan also has signed an MoU in September with Royal IHC to work together in building offshore construction vessels.
