Deal could lead to long-term strategic partnership
KOCHI/October 27-2020: Cochin Shipyard Ltd (CSL), country’s largest shipbuilder and the Italy-based Fincantieri, one of the world’s largest shipbuilding groups, have signed a Memorandum of Understanding (MoU) for cooperation in the areas of Design, Ship Building, Ship Repair, Marine Equipment Manufacturing, besides Training & Skill Development.
The agreement was signed by Bejoy Bhasker, Director (Technical) of Cochin Shipyard and Achille Fulfaro, Senior Vice President (Sales) of Fincantieri, Naval Vessel Business Unit, through video conferencing on October 27, 2020.
Cochin Shipyard Ltd (CSL), with facilities both on the East and West coast of India, is a leading yard in Ship Building and Ship Repair, both on the Commercial and Defence fronts.
Fincantieri, 230-year-old company
Fincantieri, one of the world’s largest shipbuilding groups and a leader in diversification and innovation with over 230 years of history, has built more than 7,000 vessels and currently operates 18 shipyards in four continents.
Fincantieri is a leader in cruise ship design and construction and a reference player in all high-tech shipbuilding industry sectors, from naval to offshore vessels, from high-complexity special vessels and ferries to mega yachts, as well as in ship repairs and conversions, production of systems and mechanical and electrical component equipment and after-sales services.
Sets ground for strategic partnership
The MoU between the two companies sets the ground for a strategic partnership aimed at business development for mutual benefit as well as potential indigenisation in the identified areas of cooperation in line with the ’Atmanirbhar Bharat’ and ‘Make in India’ vision of the Government of India (GoI).
“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,” a statement from CSL noted..