Drydocks World, a DP World company, and Cochin Shipyard Limited (CSL) signed a joint venture agreement to operate and expand the International Ship Repair Facility (ISRF) Cochin, the companies said in a release on Friday.
They said the 50:50 JV will operate and expand the in Kochi, strengthening India’s ship repair ecosystem and serving growing regional and global demand.
The agreement was signed by Captain Rado Antolovic, CEO, Drydocks World, and Jose V J, Chairman and Managing Director of CSL, on the sidelines of the BRICS Summit 2026 in Delhi in the presence of Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways and Omran Sharaf Alhashimi, UAE Assistant Foreign Minister for Advanced Science and Technology.
“The agreement builds on the Memorandum of Understanding (MoU) signed by Drydocks World (DDW) and CSL during India Maritime Week 2025, under which the two organisations agreed to explore opportunities for collaboration in ship repair and allied maritime services,” the statement said.
‘First-of-its-kind public-private partnership’
The companies have now formalised this collaboration through a 50:50 joint venture, marking the establishment of a first-of-its-kind public-private partnership in India’s ship repair sector, the statement said.
The CSL said that under the arrangement, the joint venture will operate, consolidate and expand the International Ship Repair Facility in Cochin, creating additional capacity to service a wider range of vessels and meet the growing requirements of Indian, regional and international customers.
How will this joint venture help?
The companies said in the release that the partnership is expected to strengthen Cochin’s position as a maritime services hub, while creating opportunities across ship repair, engineering, fabrication and associated maritime services in Kerala.
Union Minister of Ports, Shipping and Waterways Sarbananda Sonowa said, according to the press release, that the JV is a significant step in strengthening India’s ship repair ecosystem and a major opportunity for Keralam to emerge as a leading maritime services hub.
“By combining CSL’s expertise with Drydocks World’s global capabilities, the partnership will create new capacity, skills and economic opportunities for Keralam, while enhancing India’s maritime competitiveness. It supports our vision under Maritime Amrit Kaal Vision 2047 to build a self-reliant and globally competitive maritime sector,” Sonowal said.
Meanwhile, Omran Sharaf Alhashimi, Assistant Foreign Minister for Advanced Science and Technology, UAE, said that the UAE and India share a longstanding relationship rooted in mutual trust, economic cooperation and a common ambition to create new pathways for growth.
“The joint venture between Drydocks World and Cochin Shipyard is a strong example of how this partnership can translate into tangible industrial outcomes, bringing together complementary expertise to strengthen India’s maritime capabilities,” he said.
“By combining India’s growing maritime potential with the UAE’s global experience, collaborations such as this can support more efficient ship repair services, strengthen maritime connectivity and contribute to the continued growth of trade and commerce between our two countries,” he added.
Captain Rado Antolovic, PhD, CEO, Drydocks World, said the partnership with CSL is an important milestone for India’s ship repair industry and builds on the strong foundation of the MoU signed last year.
“Our ambition goes beyond one facility — we see opportunities to expand ship repair and fabrication capabilities across India,” he said.
Jose VJ, Chairman and Managing Director, Cochin Shipyard Ltd, said the joint venture marks a defining moment in India’s journey to become a global ship repair hub.
“By combining CSL’s deep domestic experience with DDW’s world-class expertise, we are not just scaling up business — we are onboarding global best practices, accelerating turnaround times, and setting new benchmarks for quality and safety. Anchored at the ISRF in Kochi, this partnership will catalyse a thriving repair cluster, attract international fleets, generate high-skilled employment, and advance the vision of Maritime India 2030 and Amrit Kaal 2047,” he said.
The partnership combines CSL’s established shipbuilding and repair capabilities, engineering expertise and skilled workforce with Drydocks World’s global experience in high-end vessel repair and maintenance, major conversions, and offshore engineering, procurement and construction (EPC), the release said.
Strategically located along major international shipping routes, the facility features a state-of-the-art ship lift system and modern docking facilities capable of servicing a wide range of vessels, it added.
About Drydocks World
Established over 40 years ago, Drydocks World, a DP World company, is a leading service provider for the maritime, offshore oil and gas, and renewable energy industries.
The shipyard has grown into one of the largest and most advanced facilities in the Middle East, strategically located next to Dubai’s Port Rashid.
With growing expertise in offshore wind energy platforms, Drydocks World is helping position the UAE as a center of excellence in maritime services and sustainable energy.
The facility is also home to the largest load-out jetty in the Middle East and Africa, with a capacity to handle structures weighing up to 37,000 tonnes.
The company specialises in ship and rig repair, maintenance, vessel conversions, and upgrades, while also driving innovation in advanced newbuild solutions.
About Cochin Shipyard Limited (CSL)
Cochin Shipyard Limited (CSL) is a Government of India (GoI) enterprise established in 1972 under the Ministry of Ports, Shipping and Waterways (MoPSW).
It is a leading shipbuilding and ship repair company with pan India presence with facilities in Kochi, Mumbai, Kolkata, Andaman & Nicobar Islands and Udupi.