Drydocks World, a DP World company, and Cochin Shipyard Limited (CSL) have signed a joint venture agreement to operate and expand the International Ship Repair Facility (ISRF) in Cochin, strengthening India’s ship repair capabilities and supporting growing regional and global demand.The agreement was signed by Captain Rado Antolovic, PhD, Chief Executive Officer of Drydocks World, and Jose V J, Chairman and Managing Director of Cochin Shipyard Limited, on the sidelines of the BRICS Summit 2026 in New Delhi. The signing took place in the presence of Shri Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways, and H.E. Omran Sharaf Alhashimi, UAE Assistant Foreign Minister for Advanced Science and Technology.
The partnership builds on a Memorandum of Understanding signed by Drydocks World and Cochin Shipyard during India Maritime Week 2025. The two organisations have now formalised their collaboration through a 50:50 joint venture focused on ship repair and allied maritime services.
Under the agreement, the joint venture will operate, consolidate and expand the International Ship Repair Facility in Cochin. The expansion is expected to create additional capacity for servicing a wider range of vessels and meet the requirements of Indian, regional and international customers.
Sarbananda Sonowal said the partnership would strengthen India’s ship repair ecosystem and support Kerala’s development as a major maritime services centre. “By combining Cochin Shipyard’s expertise with Drydocks World’s global capabilities, the partnership will create new capacity, skills and economic opportunities while enhancing India’s maritime competitiveness,” he said.
Captain Rado Antolovic said the joint venture brings together Cochin Shipyard’s skilled workforce and domestic experience with Drydocks World’s global capabilities and technology. “Our ambition goes beyond one facility. We see opportunities to expand ship repair and fabrication capabilities across India,” he said. Jose V J said the partnership represents an important step in India’s efforts to become a global ship repair hub. The collaboration is expected to bring global practices to the sector, improve turnaround times and support higher standards of quality and safety.
Located along major international shipping routes, the International Ship Repair Facility in Kochi has a ship lift system and modern docking infrastructure capable of servicing different vessel categories. The partnership is also expected to support opportunities in engineering, fabrication and associated maritime services. CSL and Drydocks World will each hold a 50% stake in the joint venture, with initial capital funded through equity contributions from both partners.
Drydocks World, a DP World company, is a leading provider of maritime, offshore oil and gas, and renewable energy services. Established more than 40 years ago, the company operates one of the Middle East’s largest and most advanced shipyards, strategically located next to Dubai’s Port Rashid.
The 200-hectare facility features five docks and more than 3,700 metres of berth space, with capacity to accommodate up to 10 ultra-large crude carriers (ULCCs) simultaneously. It also houses the Middle East and Africa’s largest load-out jetty, capable of handling structures weighing up to 37,000 tonnes. Drydocks World completes more than 300 projects annually and has managed up to 42 refurbishment projects concurrently.
Its capabilities cover ship and rig repair, maintenance, vessel conversion and upgrades, as well as advanced newbuild solutions. The company is also expanding its expertise in offshore wind platforms, supporting the UAE’s ambitions to become a centre for maritime services and sustainable energy.
Cochin Shipyard Limited (CSL), a Government of India enterprise under the Ministry of Ports, Shipping and Waterways, was established in 1972 and is one of India’s leading shipbuilding and ship repair companies. With facilities in Kochi, Mumbai, Kolkata, the Andaman & Nicobar Islands and Udupi, CSL serves customers across domestic and international markets.
CSL has built a diverse portfolio of defence, commercial and offshore vessels, including high-technology naval platforms and aircraft carriers. The company has completed more than 2,600 ship repair, refit and conversion projects covering tankers, dredgers, bulk carriers, offshore and passenger vessels, seismic and geological research vessels, and naval and coast guard ships. It is the only shipyard in India equipped to undertake aircraft carrier refits.
The company also undertakes revamps, upgrades and conversions of jack-up rigs, mobile offshore drilling units and offshore oil platforms. CSL places strong emphasis on skill development and training for maritime professionals and supports programmes aimed at strengthening marine engineering and trade skills. It also supports maritime start-ups and works with industry stakeholders to develop India as a global hub for skilled shipbuilding and ship repair professionals. With a focus on sustainability, innovation and capability expansion, CSL is strengthening its presence in the global maritime sector and building long-term capacity across shipbuilding and ship repair.
