New Delhi: In a landmark move to expand its global footprint, Mazagon Dock Shipbuilders Limited (MDL), India’s premier defence public sector shipyard, has announced its strategic acquisition of a controlling stake in Colombo Dockyard PLC (CDPLC), Sri Lanka’s largest and most prominent shipyard. The investment, valued at up to $ 52.96 million, marks MDL’s first international venture.
The acquisition will be executed through a mix of primary capital infusion and secondary share purchases, including the acquisition of shares from Onomichi Dockyard Co. Ltd., the current majority shareholder. Once completed, subject to necessary regulatory approvals and closing conditions, CDPLC will become a subsidiary of MDL.
Strategically located within the Port of Colombo, CDPLC provides MDL with a strong operational base in the Indian Ocean Region (IOR), one of the world’s most critical maritime trade corridors. This move enables MDL to emerge as a regional player with global ambitions in the shipbuilding and marine engineering industry.
CDPLC boasts over five decades of experience in shipbuilding, ship repair, and marine heavy engineering. The shipyard operates four drydocks and multiple berths capable of accommodating vessels up to 125,000 DWT. It is certified by leading global classification societies such as DNV, Lloyd’s Register, ABS, and IRS. Its clientele spans Japan, Norway, France, the UAE, India, and several African countries.
The Sri Lankan shipyard is also pursuing a strong pipeline of orders exceeding $300 million, which includes cable-laying ships, utility vessels, and new-build fleet support ships. With MDL’s backing, through technology collaboration, integration with Indian supply chains, and access to Indian and allied markets, CDPLC is poised for a financial and operational turnaround.
“This is not just an acquisition – it is a gateway,” said Capt. Jagmohan, Chairman and Managing Director of MDL. “With CDPLC’s strategic location, proven capabilities, and strong regional presence, this step will position MDL as a key player in South Asia and lay the foundation for our emergence as a global shipyard.”
The acquisition aligns with India’s Maritime Amrit Kaal Vision 2047, which seeks to establish India as a global maritime power through enhanced regional collaboration and industrial capacity-building. It also reflects MDL’s long-term strategy to foster maritime self-reliance and create a competitive, multi-location shipbuilding ecosystem driven by Indian expertise.
MDL, headquartered in Mumbai, is India’s leading builder of warships and submarines and a cornerstone of the country's naval modernization. Colombo Dockyard PLC, listed on the Colombo Stock Exchange, is the flagship of Sri Lanka’s maritime sector, serving both commercial and Government clients across Asia, the Middle East, and Africa.
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