Cochin Shipyard Limited, India’s largest shipbuilder, has signed a partnership agreement with Fincantieri, one of the world’s largest shipbuilders.
Besides ship-building, the two will co-operate in the areas of ship design, repair, marine equipment manufacturing and training & skill development, the Kochi-based company said today.
Italy-based Fincantieri has over 230 years of history and more than 7,000 vessels built. The group operates 18 shipyards in four continents.
Cochin Shipyard, meanwhile, has ship building facilities on both the east coast and the west coast of India.
Fincantieri is a leader in cruise ship design and construction and is considered a “reference player” in all high-tech shipbuilding industry sectors such as naval and offshore, the Indian company said.
The Italian company is also specialized in building high-complexity special vessels, ferries and mega yachts.
It is also reputed in areas such as ship repairs and conversions, production of systems and mechanical and electrical component equipment and after-sales services, Cochin Shipyard said.
“This Agreement sets the ground for a strategic partnership aimed at business development for mutual benefit as well as potential indigenization in the identified areas of cooperation in line with the ’Atmanirbhar Bharat’ and ‘Make in India’ vision of GoI,” the public sector company said.
“From an innovation standpoint, this agreement will kick-start the development of cutting-edge solutions in strategic advanced sectors in India, aimed at offering latest technology products both for the Indian as well as global markets.”