Greenlight for Growth: Cochin & Pipavav Shipyards to Expand

Cochin Shipyard Ltd and Swan Defence and Heavy Industries Ltd have secured in-principle approval under the National Shipbuilding Mission for brownfield expansion of their shipyards in Kochi and Pipavav, respectively, marking a significant step in India's efforts to strengthen domestic shipbuilding capacity.

Cochin Shipyard plans to establish a ₹4,000-crore block fabrication facility through a joint venture with South Korea's HD Hyundai Heavy Industries on land leased from the Cochin Port Authority adjacent to its existing Kochi yard. Meanwhile, Swan Defence will expand its Pipavav shipyard in Gujarat by developing 75 acres of adjoining land, with environmental studies already underway ahead of the next phase of expansion.

The approvals have been granted under the government's ₹19,989-crore Shipbuilding Development Scheme, which includes ₹8,261 crore for brownfield expansion of existing shipyards. Eligible projects can receive capital assistance of up to 25% of the approved project cost, capped at ₹1,500 crore per shipyard, with funding released in milestone-linked phases. The expansion programme is expected to enhance India's shipbuilding infrastructure, support advanced manufacturing capabilities, and help achieve the country's target of becoming one of the world's top shipbuilding nations by 2047.

News by Rahul Yelligetti.