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The Economic Times
The Economic Times

Cochin Shipyard to form Rs 1,800 crore JV with DP World's Drydocks World Dubai for Kochi facility

Cochin Shipyard DP World Kochi Dubai CSL India

Cochin Shipyard Ltd (CSL) on Wednesday approved a proposal to form a 50:50 joint venture with Drydocks World Dubai FZCO (DDW), a DP World company, to operate and manage its International Ship Repair Facility (ISRF) in Kochi.

As part of the proposed transaction, Cochin Shipyard will transfer the ISRF to the joint venture on a slump sale basis for a consideration of around Rs 1,800 crore. The state-run shipbuilder will receive half the consideration in cash, while the remaining 50% will be received in the form of shares of the joint venture.

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