Cochin Shipyard on Wednesday received approval from the Cabinet Committee on Economic Affairs to build a new dry dock at the shipyard to enable construction and repair of larger vessels such as LNG carriers.
According to the statement by India’s ministry of shipping the estimated construction cost of the new dry dock is at Rs. 1799 crore, fully funded through internal and extra budgetary resources of CSL.
The objective of the new dry dock is to augment the shipbuilding and ship repair capacity required to secure a share in the market of building specialized vessels such as liquefied natural gas carriers.
In addition, the dry dock would enable construction of indigenous aircraft carriers of higher capacity, jack-up rigs, drill ships, large dredgers and repairing of offshore platforms and larger vessels.
The ministry added that the new facility is a requirement for CSL under the “make in India” initiative of the government.
Cochin Shipyard has already secured a license from the French LNG containment specialist GTT to build LNG carriers with the Mark III membrane containment system.
LNG World News Staff