Cochin Shipyard signs MoU with Russian firm
The MoU aims to improve capacities at Cochin Shipyard for construction of high-technology vessels for waterways and coastal shipping. This collaboration would bring in market innovation while harnessing newer technologies.
Cochin Shipyard & United Shipbuilding Corporation, Russia, has signed a Memorandum of Understanding (MoU) to collaborate and engage in design, development and execution of contemporary, state-of-the-art vessels for inland and coastal waterways. The MoU was signed by Madhu S Nair, Chairman & Managing Director, Cochin Shipyard and Alexey Rakhmanov, President, United Shipbuilding Corporation, in the presence of Nitin Gadkari, Minister for Road Transport & Highways, Shipping & Water Resources, River Development & Ganga Rejuvenation, Government of India. “There is a huge potential in inland waterways, cruise tourism and RORO transportation in the country. This collaboration would certainly bring in the much-needed product as well as market innovation while harnessing newer technologies.” said Gadkari. The massive push to waterbased transport through the infrastructure development efforts under the Sagarmala programme of government will open up opportunities for specialised vessels. The MoU is an effort to get ready to cater to the demand for different kinds of vessels that is expected in the near and medium term. The MoU will open more avenues and give way to wider participation of these organisations in the programme of the Government of India to boost eco-friendly and economic transportation and give impetus to trade along India’s Inland waterways under Sagarmala and ‘Make-in-India’ programmes. CSL & USC will collaborate for development of HighSpeed Vessels, River-Sea Cargo Vessels, Passenger Vessels, Dredgers, and other watercrafts for Indian Waterways and coastal shipping. This will capture the growth and employment opportunities that will open up from the development of inland waterways and coastal shipping.