Cochin Shipyard Inks MoU with United Shipbuilding Corporation
- Business & Finance
Cochin Shipyard Limited (CSL) and United Shipbuilding Corporation (USC) from Russia have signed a Memorandum of Understanding (MoU) to collaborate and engage in design and development of contemporary vessels for inland and coastal waterways.
Under the agreement, CSL and USC will collaborate on the development of dredgers, high-speed vessels, river-sea cargo vessels, passenger vessels and other watercrafts for inland waterways and coastal shipping.
The deal was signed by Shri Madhu S Nair, CSL Chairman and Managing Director, and Mr Alexey Rakhmanov, USC President, in the presence of Shri Nitin Gadkari, Minister for Road Transport and Highways, Shipping and Water Resources, River Development and Ganga Rejuvenation in New Delhi last week.
According to the official statement, this MoU will give a significant push to the Government’s Make-in-India Program.
CSL also incorporated a joint venture company by the name HCSL (Hooghly Cochin Shipyard Limited) in Kolkata recently, with plans to set up an exclusive facility for construction and repair of vessels for inland and coastal waterways.