US Edition
Mazagon Dock Makes First Global Push, Picks Majority Stake in Colombo Dockyard for $53 Million. Details Here
- On June 28, 2025, Mazagon Dock Shipbuilders Limited revealed plans to purchase a majority shareholding in Colombo Dockyard PLC, Sri Lanka’s leading shipbuilding and repair company, for approximately $52.96 million.
- This acquisition, MDL's first international purchase, follows CDPLC's financial struggles with over LKR 28 billion debt and its strategic location in Colombo Port.
- CDPLC, the leading shipyard in Sri Lanka with more than fifty years of expertise, operates four drydocks and various berths capable of accommodating ships with a deadweight tonnage of up to 125,000. The company is also actively developing a portfolio of contracts valued at over $300 million.
- The deal is expected to close within six months, making CDPLC a subsidiary and enhancing MDL's reach in the Indian Ocean, which MDL said 'strengthens India’s regional maritime influence.'
- This acquisition represents MDL’s evolution from a national shipbuilder into a prominent regional maritime enterprise with ambitions extending worldwide, in line with India’s Maritime Amrit Kaal Vision 2047.
20 Articles
20 Articles
Why has Mazagon Dock bought controlling stake in Sri Lanka's Colombo dockyard?
Mazagon Dock Shipbuilders Ltd has bought a majority stake in Colombo Dockyard PLC (CDPLC). Experts say the move is aimed at countering China’s growing footprint in Sri Lanka as well as the Indian Ocean Region. Experts also say the deal gives MDL a foothold into the region and could be the first step towards the firm becoming a global player in shipbuilding
Mazagon Dock Shipbuilders to buy controlling stake in Colombo Dockyard
The development, of an Indian company acquiring controlling stakes at the facility located within the Colombo Port, comes amid New Delhi’s preoccupation with apparently growing Chinese outreach in the region
Mazagon Dock Shipbuilders To Acquire Controlling Stake In Colombo Dockyard PLC
State-run Mazagon Dock Shipbuilders Limited (MDL) has decided to acquire a controlling stake in Sri Lanka's Colombo Dockyard PLC under a USD 52.96 million deal, a move that is expected to expand India's strategic presence in the island nation.
Coverage Details
Bias Distribution
- 50% of the sources lean Right
To view factuality data please Upgrade to Premium
