The dry dock at Cochin Shipyard is being set up at an investment of Rs 1,799 crore
Nitin Gadkari
The Centre will not privatise a profit-making Cochin Shipyard Ltd, Union Minister for Shipping, Road Transport & Highways Nitin Gadkari said on Tuesday as he laid the foundation stone for India's largest dry dock at the shipyard.
"We don't privatise any profit-making institution. We will never allow any private person to take this because CSL is in good profit," Gadkari said.
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The dry dock at Cochin Shipyard is being set up at an investment of Rs 1,799 crore. It will be 310 metres long, 75 metres wide, with a depth of 13 metres and a draught of 9.5 metres.
Once ready in 2021, it will handle both ship-building and repairs. The dock will also have a water treatment plant.
"The dry dock will give an impetus to 'Make in India' initiative under Sagarmala, as this project is likely to increase India's share in global ship-building to 2 per cent," said Gadkari.
India's share in the global ship-building market is 0.66 per cent currently. The commercial ship-building industry in the country is worth Rs 3,200 crore and focuses primarily on small/medium sized off-shore vessels and cargo/bulk carriers.
Kerala Chief Minister Pinarayi Vijayan said the state government was giving great importance to inland water transport.
Two 500-capacity passenger vessels, built by CSL for the Andaman and Nicobar Islands administration, were also launched by Kanchan Gadkari, the wife of the Union Minister.
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