Cochin Shipyard eyes inland waterways... with big money

NEW DELHI: Basking in the IPO success, Cochin Shipyard is now drawing up huge expansion plans, including one of foray into inland water transport.

Its IPO in August turned out to be a blockbuster that received more than Rs 1.11 lakh crore worth of bids as against the offer size of Rs 1,442 crore.

"We have currently undertaken three major expansion projects -- a dry dock in Cochin with an investment of Rs 1,800 crore; second, an international ship repair facility on the port trust land at a cost of Rs 970 crore and third, we are making a foray into inland waterways transport," Cochin Shipyard Ltd (CSL) CMD Madhu S Nair said.

The PSU, Nair said, is on the same page with the government when it comes to thrust on waterways, given the huge opportunities in the sector.

CSL intends to build an international ship repair facility within the yard, for which it has already leased a 42-acre plot from the Cochin Port Trust.

The leading ship-building and maintenance player is also looking at ship repair opportunities in other port cities of India. "We are talking to various ports in some major cities in the country for ship repair facilities," he said.

The chairman added that Cochin Shipyard is in advanced stage of incorporating a joint venture company for taking over assets of the Hooghly dock in Kolkata.

CSL has plans to build a Rs 100-crore facility on the Hooghly in Kolkata for construction of vessels for inland water transport.