Cochin Shipyard and Drydocks World Form 50:50 Ship Repair JV

India's ship repair industry has a new joint venture. Cochin Shipyard Limited and Drydocks World, a DP World company, signed the agreement on 11 September 2026. The venture will operate and expand the International Ship Repair Facility (ISRF) at Cochin. Each side will hold 50 per cent. The initial capital will come from equity put in by both parties.

Who signed, and where

Captain Rado Antolovic, Chief Executive Officer of Drydocks World, signed for his company. Jose V. J., Chairman and Managing Director of Cochin Shipyard, signed for the shipyard. The signing took place in New Delhi on the sidelines of the BRICS Summit 2026. Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal was present. So was Omran Sharaf Alhashimi, Assistant Foreign Minister for Advanced Science and Technology of the United Arab Emirates.

The agreement in brief

What the venture will do

The joint venture will operate the facility, consolidate it and expand it. That adds capacity to service a wider range of vessels. The aim is to meet the rising needs of Indian, regional and international customers. The partnership is expected to make Cochin a stronger maritime services hub. It is also expected to open work in ship repair, engineering, fabrication and allied maritime services in Kerala. The facility sits along major international shipping routes and has a modern ship lift system and docking facilities.

What the leaders said

Sarbananda Sonowal called the partnership an important milestone for the ship repair ecosystem and a reflection of the maritime relationship between India and the UAE. He placed it under the Maritime Amrit Kaal Vision 2047. Vijay Kumar, Secretary in the Ministry, said the model is not limited to Kochi and can be repeated along India's coastline, attracting foreign investment and creating thousands of skilled jobs. Jose V. J. said the venture would speed up turnaround times and set new benchmarks in quality and safety, advancing the vision of Maritime India 2030. Drydocks World brings experience in high-end vessel repair, major conversions and offshore engineering, procurement and construction.