Cochin shipyard seals Korean MoU, plans major facilities in Kochi

Cochin Shipyard has signed an MoU with HD Korea Shipbuilding & Offshore Engineering to build up to six large vessels annually using its new 310-metre dry dock. The company will also invest Rs 3,700 crore in a Block Fabrication Facility at Kochi, generating significant employment. Additionally, it signed an MoU with Tamil Nadu’s Guidance for a potential Rs 15,000 crore greenfield shipyard project, expected to create nearly 10,000 jobs and include a modern ship repair facility.

Cochin Shipyard has entered into a Memorandum of Understanding (MoU) with HD Korea Shipbuilding & Offshore Engineering to establish a long-term strategic collaboration in shipbuilding. In an exchange filing, the public sector company noted that its 310-metre new dry dock will be used for constructing large vessels, including tankers, container ships, and bulk carriers. Under the MoU with the South Korean company, Cochin Shipyard aims to manufacture up to six vessels annually.

To support this expansion, Cochin Shipyard will set up a dedicated Block Fabrication Facility at Kochi, spread across nearly 80 acres. The company said the project involves an investment of about Rs 3,700 crore and, once completed, will provide an annual capacity of 1,20,000 MT. According to the company, the project will create around 2,000 direct jobs, along with “2X to 5X indirect employment in sectors such as logistics, MSMEs, supply and chain.”

In addition, the company announced that it signed a second MoU with Guidance, the nodal agency of the Government of Tamil Nadu. The agreement aligns with the Government of India’s vision to build shipbuilding clusters across the country.

Cochin Shipyard highlighted that as part of its long-term growth roadmap, it is exploring a greenfield investment of nearly Rs 15,000 crore to establish a state-of-the-art shipyard in Tamil Nadu in partnership with a Korean company. Around 10,000 direct and indirect jobs are expected in the first phase of the project. The plan may also feature a modern ship repair facility, enhancing the shipbuilding ecosystem in the region.

Through these initiatives, Cochin Shipyard is strengthening its capabilities, expanding infrastructure, and positioning itself as a key player in India’s emerging shipbuilding industry.