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Syama Prasad Mookerjee Port, Kolkata (SMPK), has left its joint venture structure with the Cochin Shipyard Ltd (CSL).
However, both entities have reaffirmed their commitment to work together for strengthening India’s Ship Repair Sector.
According to an official statement, the two ended their joint venture with a transfer of Rupper 5.94 crore as shared profits, generated by the Cochin–Kolkata Ship Repair Unit.
SMPK chairman Rathendra Raman got the cheque from Cochin Shipyard chairman and managing director Madhu Nair.
The handover happened during a visit to Cochin Shipyard’s ship repair facility in Cochin, per an official statement.
Rathendra Raman stated that the shared profits highlight the increasing competitiveness of India’s ship repair yards.
He added that collaborative models, which involve ports and shipyards, have a vital role in enhancing the government’s ‘Make In India’ initiative by decreasing the dependence on overseas repair facilities.
The joint venture has come to an end, and Kolkata Port has said it would focus on independently expanding ship repair capabilities.
It plans to scale up its facilities and attract a larger share of repair and maintenance work by leveraging its favourable location and present maritime infrastructure.
SMPK and Cochin Shipyard said they will explore opportunities in the future, even if the former has decided to pursue an ambitious and autonomous ship repair growth strategy.
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Disclaimer :
The information on this website is for general purposes only. While efforts are made to ensure accuracy, we make no warranties of any kind regarding completeness, reliability, or suitability. Any reliance you place on such information is at your own risk. We are not liable for any loss or damage arising from the use of this website.
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