Coal news and updates

Cochin Shipyard inks deal with HD Korea for shipbuilding

Cochin Shipyard Limited (CSL) and has signed a memorandum of understanding (MoU) with HD Korea Shipbuilding & Offshore Engineering (HD KSOE) for a long-term strategic collaboration in shipbuilding, according to an official release.

The collaboration will also focus on joint execution of shipbuilding projects at CSL’s existing facilities during the transition phase, while simultaneously exploring opportunities in new business areas, greenfield shipyards, and skill development.

Additionally, CSL signed a second MoU with Guidance, the nodal agency of the Government of Tamil Nadu for developing shipbuilding clusters. As part of its long-term growth strategy, CSL is considering a greenfield investment of about Rs 15,000 crore to establish a state-of-the-art shipyard in Tamil Nadu in collaboration with a Korean partner. In its first phase, the project is projected to create nearly 10,000 jobs—comprising 4,000 direct and 6,000 indirect opportunities—and may also include a modern ship repair facility.