COCHIN SHIPYARD ACQUIRES STAKE IN DUTCH SHIP DESIGN FIRM

India's shipbuilding PSU company

has signed an agreement with Conoship International Holding B.V. for the acquisition of a 23% equity stake in the Netherlands-based ship design and engineering company. Cochin Shipyard will acquire the 23% stake for a cash consideration of Euro 2.30 million. Conoship is a Netherlands-based ship design and engineering company with a portfolio covering general cargo vessels, tankers, dredgers, ferries and offshore vessels. The company provides ship design and engineering services to shipyards worldwide. This acquisition is aimed at helping Cochin Shipyard expand into European coastal, inland waterways, and short-sea shipping through advanced ship design solutions.