Kolkata's Syama Prasad Mookerjee Port (SMPK) has formally separated from Cochin Shipyard Limited (CSL), but has also vowed to work with the Kerala-based shipbuilder in boosting India's ship repair ecosystem.
Official statements said that the partnership ended with the two companies receiving their share of the profits generated by the Cochin–Kolkata Ship Repair Unit (CKSRU).
The shared profits, amounting to Rs 5.94 crore, were handed over to SMPK Chairman Rathendra Raman by CSL Chairman and MD Madhu S. Nair during a visit to Cochin Shipyard’s ship repair facilities in Kochi, as per a Maritime Gateway report.
According to Raman, the nearly six-crore figure pointed to the growing prowess of Indian ship repair yards.
He added that collaborative port-shipyard models also played a key role in advancing the Centre's 'Make in India' initiative by reducing dependence on foreign repair firms.
Developing India's ship repair ecosystem also ties in with the country's larger maritime ambitions under the Maritime India Vision 2030 and the Maritime Amrit Kaal Vision 2047.
Joint ship repair operations began on September 29, 2019 under a 15-year Concession Agreement inked in March that year, which also presented a renewal option for another 15-year period.
The agreement also mandated that the CSL share 40 per cent of the profit before tax with the SMPK.
The CKSRU had utilised "two Dry Docks and one Berth" at the SMPK's Netaji Subhas Dock for this purpose, as per a response from the Union Ministry of Ports, Shipping and Waterways (MoPSW) to a Lok Sabha query.
With the joint venture structure now closed, the SMPK has said that it plans to independently boost ship repair capabilities in its own state, Kolkata. The idea is to scale up ship repair infrastructure in order to better utilise its strategic location in attracting more repair work.
Still, both the CSL and the SMPK have left the door open to possible future collaborations as well.
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