Particle.news
Download on the App Store
17 ARTICLES
·
2mo ago

Mazagon Dock Seals Deal to Acquire 51% of Colombo Dockyard for Rs 452 Crore

Regulatory approvals are pending to close the purchase, extending MDL’s operations into the Indian Ocean region.

Image
Image
Mazagon Dock Shipbuilders Limited
Mazagon Dock Shipbuilders acquires majority stake in Colombo Dockyard for $52.96 million

Overview

  • Mazagon Dock Shipbuilders signed definitive agreements with Japan’s Onomichi Dockyard to buy a controlling 51% stake in Colombo Dockyard PLC for Rs 452 crore.
  • The acquisition combines a primary infusion of new securities with secondary share purchases to shore up Colombo Dockyard’s debt-laden balance sheet.
  • This marks MDL’s first international venture, aligning with India’s Maritime Amrit Kaal Vision 2047 and Make-in-India defence manufacturing initiatives.
  • The Port of Colombo facility will provide MDL a strategic foothold in a key maritime corridor and enhance its shipbuilding, repair and R&D capabilities.
  • Completion remains subject to customary regulatory and closing approvals, with the transaction on track to close within the next four to six months.