Kolkata Port gets divided from Cochin Shipyard, eyes expansion of ship repair

Kolkata: Syama Prasad Mookerjee Port, Kolkata and Cochin Shipyard Ltd on Friday reaffirmed their partnership to strengthen India's ship repair ecosystem, with Rs 5.94 crore handed over as shared profit under their joint venture.

PSU Watch is now on Whatsapp Channels. Click here to join

SMPK chairman Rathendra Raman received the cheque from CSL chairman and managing director Madhu Nair during a visit to CSL's ship repair facility at Cochin, a statement said here.

The amount represents profit generated by the Cochin-Kolkata Ship Repair Unit (CKSRU), a joint venture between the two entities.

Raman said the profit underscores the commercial and strategic potential of indigenous ship repair facilities and shows how collaboration between port authorities and shipyards can support the 'Make in India' initiative.

He added that SMPK is keen to further expand ship repair activities at Kolkata.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)