The Indian shipbuilding company Cochin
Shipyard Ltd. (CSL) has signed an agreement with Drydocks World of
Dubai for the creation of a 50:50 joint venture to be awarded the
ownership and management of the new international centre of
ship repairs International Ship Repair Facility (ISRF) of the
CSL located on an area of 30 hectares on the island of Willingdon, in
Cochin, whose services are initially offered to ships up to
130 meters and weighing six thousand tons, a capacity that will be
increased by the joint venture.
The ownership of ISRF, which operates under a
concession contract with the Port Authority of Cochin
for a period of 60 years, will be transferred to the joint venture
for a consideration of not less than 18 billion rupees (188
million dollars). CSL will receive 50% of this amount in
cash and the other 50% in shares in the joint venture.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
