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India’s Mazagon Shipbuilders to Acquire Colombo Dockyard
- Mazagon Dock Shipbuilders Limited has decided to acquire a controlling stake in Colombo Dockyard PLC, investing USD 52.96 million, marking MDL's first international venture in shipbuilding and enhancing India's strategic presence in the region.
- The acquisition aims to enhance the shipbuilding landscape in the region, bringing a pipeline of orders for repairs and new builds from domestic and international markets.
- Colombo Dockyard PLC, facing financial distress, reported losses of LKR 2.48 billion in 2024, and MDL's strong financial resources could expedite its turnaround process, claim MDL officials.
- Captain Jagmohan described the acquisition as a 'gateway,' emphasizing its strategic importance and potential for establishing MDL as a key player in South Asia and beyond.
11 Articles
11 Articles
India’s Mazagon Shipbuilders to Acquire Colombo Dockyard
India’s state-owned Mazagon Shipbuilders has revealed its proposed acquisition of a controlling stake in Sri Lanka’s Colombo Dockyard. If successful, this will become the first international acquisition by an Indian yard, at a time the country is intensifying efforts to capture a bigger share of the global shipbuilding market. The deal is valued at $52.96 million, representing at least 51 percent equity in Colombo Dockyard. This stake was earlie…
India's Mazagon Dock, the state-owned shipbuilding company, has acquired a 51% stake in Colombo Dockyard, Sri Lanka, the largest and most well-equipped shipyard in Sri Lanka, the company announced yesterday. Beyond just a mere acquisition, India's Mazagon Dock acquires 51% stake in Colombo Dockyard, Sri Lanka
Mazagon Dock acquires Colombo Dockyard
State owned Mazagon Dock Shipbuilders Limited (MDL), has announced that on the 27th June it’s board approved the acquisition of Colombo Dockyard PLC (CDPLC), based in Sri-Lanka, the acquisition of the 51% stake cost 425 crore (Rupees), Around £36.1m GBP. The deal is expected to close within the next four to six months pending regulatory […] The post Mazagon Dock acquires Colombo Dockyard first appeared on SeaNews.
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