- Panamax Ships on the Horizon as Mandovi and Ripley Expand Operations.
- India’s Shipbuilding Industry Gets a Boost with New Facility at Kolkata Port.
- Ambitious Shipbuilding Project in Kolkata to Produce 25,000-Ton Vessels.
Goa-headquartered Mandovi Drydocks and Kolkata-headquartered Ripley Stevedoring and Shore Handling Pvt Ltd have entered a joint venture to create a world-class shipbuilding and repair complex at Kolkata Port (Syama Prasad Mookerjee Port). Expected to be developed with an investment of up to Rs. 2,000 crore, this project aims to make the port a leading shipbuilding centre, reports Chem Analyst.
Strategic Investment and Expansion Plans
The joint venture, on an equal partnership basis, has leased 121 acres of land in the port complex for 30 years. The project will start with an initial outlay of Rs. 200 crore, with a focus on building vessels in the 6,000-8,000-ton category. Operations will be scaled up over the next five to six years to build ships of 15,000 tons, and then 25,000 tons.
A joint venture senior official added: “Our vision is to build Panamax-size ships.”
The investment highlights the confidence of the partners in increasing demand for larger ships within the maritime industry. The transfer of land will be done within days, subject to a competitive tendering procedure, to make it transparent and efficient.
Capabilities and Expertise of the Partners
Mandovi Drydocks, a shipbuilding and repair industry leader, contributes its vast technical experience to the venture. The company has facilities in Bicholim and Rassaim (Goa) and a huge dry dock and shipbuilding complex in Dabol, Maharashtra.
Ripley Group, by contrast, brings its solid position in stevedoring, port terminal operations, and ship management. Panbulk Shipping DMCC, the group’s Dubai subsidiary, has branched out into ship owning and operating, bolstering the capabilities of the joint venture further.
Strengthening India’s Shipbuilding Industry
This project demonstrates the strategic relevance of utilizing India’s extensive coast and port assets to increase the shipbuilding capacity. This also fits the government’s pursuit of monetization of port infrastructure and private capital investment in maritime activities. Its strategic location and connectivity make the Syama Prasad Mookerjee Port a suitable place for a shipbuilding facility to be established in a modern shape.
The venture is part of a larger pattern of India’s major ports granting land to shipyards for expansion and growth.
Increasing Strength in India’s Maritime Economy
India’s shipbuilding sector is experiencing tremendous development, with several large investments and expansions:
- Cochin Shipyard Ltd commissioned a Rs. 970 crore international ship repair complex at the Cochin Port, further improving India’s maritime infrastructure.
- Deendayal Port Authority has sought bids for a 2,000-acre shipbuilding cluster on an integrated basis, marking a countrywide thrust to increase shipbuilding capacity.
The Mandovi Drydocks-Ripley Group joint venture is likely to be a key player in this national growth strategy, strengthening India’s position in the global shipbuilding sector.
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Source: Chem Analyst
