India aims to attain self-sufficiency in ship repair
India aims to attain self-sufficiency in ship repair and emerge as a dominant ship repair center, India’s Union Minister of Shipping, Shri G.K. Vasan told members of a parliamentary consultative committee meeting to discuss operations of the Cochin Shipyard.
To play its part in reaching India’s ship repair and shipbuilding goals, Cochin shipyard is planning a capacity expansion. The shipyard’s managing director, Commodore K. Subramaniam, told the meeting that based on the yard’s business plan and in order to sustain the growth of ship repair and shipbuilding in future, it was essential that investment be made for:
- a new dry dock at the shipyard with dimensions of 80 m x 100 m capable of docking rigs, semi-submersibles etc.
- development a ship-repair facility at Cochin Port Trust.
- taking up offshore fabrication work at a dedicated offshore location.
The shipyard is currently a Government owned entity. However, there are plans to meet a part of its expenditure for expansion through IPOs.
Source: MarineLog