Cochin Shipyard Cleared to Build USD 268 Million Drydock

India’ Cabinet Committee on Economic Affairs has given its approval for construction of a new drydock within the existing premises of Cochin Shipyard Limited (CSL) at an estimated cost of INR 1,799 crore (USD 267.7 million).

The objective of the project is to increase the shipbuilding and ship repair capacity of the country and tap the market potential of building specialized and technologically advanced large vessels such as liquefied natural gas (LNG) vessels, indigenous aircraft carriers of higher capacity, jack up rigs, drill ships, large dredgers, and repairing of offshore platforms and larger vessels.

There would be no financial outgo from the government on account of the construction of new dry dock as the expenditure will be funded through Internal and Extra Budgetary resources (IEBR) of CSL and the funding requirements are fully tied up.

The government expects that apart from direct employment of 300 personnel, about 2,000 personnel would be indirectly employed when the project becomes fully operational.

Share this article

Follow World Maritime News

In Depth>


<< Mar 2018 >>
26 27 28 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018 is organized by the Maritime and Port Authority of Singapore…

read more >

Shippax Ferry Conference 2018

The two-day onboard ferry conference was first organized in 2003 and grows ever more popular with some 400 delegates from over 40 ferry…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >