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COCHIN SHIPYARD AND UNITED SHIPBUILDING FINALISE MoU

Saturday, October 6, 2018 

According to reports in the Indian business media, Cochin Shipyard (CSL) has signed an agreement with United Shipbuilding Corporation (USC) of Russia to boost water transportation in India.

India’s water resources minister Nitin Gadkari is reported to have said, in a speech to an India-Russia business summit: "State-owned CSL is now planning to make a joint venture with Russian company USC. It has already been formalised. At the same time we are planning a tie up in river transport like catamarans, seaplane technology and other areas." Gadkari stated that India has huge potential and appetite for innovation in these fields.

Gadkari said there are enormous opportunities in inland waterways, cruise tourism and ro-ro transportation in the country and the collaboration would certainly bring in the much needed products as well as market innovation, while harnessing newer technologies. “With Russia we have good relationships lasting many years, and interested Russian companies are welcome to invest in the infrastructure,” he said. Gadkari added that the Indian government was in talks with other Russian businesses about developing the country’s ports and waterborne trade.

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