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Cochin Shipyard to construct new $268m dry dock

Cochin Shipyard to construct new $268m dry dock
India’s Cochin Shipyard will build a new dry dock at a cost of INR17.99bn ($267.7m) to boost its shipbuilding and repair capacity, reports said.

A statement from India’s ministry of shipping said the government has approved the construction of the new dry dock, saying it will help Cochin Shipyard advance to building more specialised and larger vessels such as LNG carriers, jack-up rigs, drillships, large dredgers, and repairing of offshore platforms.

The ministry said the INR17.99bn expenditure will be funded through internal and extra budgetary resources of Cochin Shipyard.

The project is expected to create 300 jobs and about 2,000 personnel would be indirectly employed when the project becomes fully operational.