COCHIN SHIPYARD AND SWAN DEFENSE GET IN-PRINCIPLE BACKING FROM NATIONAL SHIPBUILDING MISSION FOR BROWNFIELD EXPANSION

$COCHINSHIP and Swan Defense have secured in-principle backing from the National Shipbuilding Mission for brownfield expansion of their facilities at Cochin and Pipavav, respectively. State-run $COCHINSHIP will build a Rs 4,000 crore block fabrication facility in a joint venture with South Korea’s HD Hyundai Heavy Industries Co Ltd, on land leased from Cochin Port Authority, located adjacent to its flagship yard at Kochi. Swan Defense has sought approval for the installation of a second Goliath Crane of a minimum capacity of 600 T and new ELL crane of 40 T capacity. The National Shipbuilding Mission is the nodal coordinating agency for the shipbuilding sector. The in-principle approval allows operational shipyards to proceed with the preparatory works required to seek final approval for the project. The government has earmarked Rs 8,261 crore for funding brownfield shipyard expansions under the Rs 19,989 crore Shipbuilding Development Scheme (SbDS) approved by the Union Cabinet last year.