Will bring end-to-end solutions for Mumbai Port Trust post MoU: Cochin Shipyard

作者:Magical    發表日期:2018-09-27 17:02:22

Cochin Shipyard has signed a memorandum of understanding (MoU) with the Mumbai Port Trust for management and operation of their ship repair facilities. The move will serve the increasing ship repair demands in Mumbai area. This is significant because the margins for ship repair, which are in the region of 30 to 33 percent, are almost three times that of shipbuilding, which stands at 11 to 12 percent.

In an interview with CNBC-TV18, Madhu S Nair, CMD of Cochin Shipyard spoke about the latest happenings in his company and sector.

Mumbai Port Trust had the hugest dry dock which is very old but very effective and efficient one, he said.

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Port used to lease it out and then the work used to be done by a consortium of various sub-contractors. We will now bring in end-to-end solutions based on our ship repair domain expertise and we will make some investments also there because there are a fair bit of upgradations and revamp that is to be done, he added.

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We also intend to bring in a floating dry dock into the Mumbai area. So all in all, it is a very robust situation, said Nair.

According to him, ship repair growth can happen in the Mumbai area with this new arrange.

Ship repair is doing very well and this year also we are doing exceedingly well from our Cochin operations. I would expect in the first year, that is FY19, Mumbai operations will add up another 20 percent into the topline of our ship-repair revenue turnover, he further mentioned.

For full interview, watch accompanying video...