Goa-based Mandovi Drydocks and Kolkata-based Ripley Stevedoring and Shore Handling Pvt Ltd have entered a joint venture to establish a state-of-the-art shipbuilding and repair facility at Kolkata Port (currently Syama Prasad Mookerjee Port). This ambitious project, backed by a planned investment of up to Rs. 2,000 crore, aims to transform the port into a major shipbuilding hub.

The joint venture, formed on an equal partnership basis, has secured a 30-year lease for 121 acres of land within the port premises. With an initial investment of Rs. 200 crore, the facility will commence operations by constructing vessels in the 6,000-8,000-ton range. Over the next five to six years, the yard is projected to scale up its operations, progressing to build ships of 15,000 tons and eventually reaching 25,000 tons.

"Our vision is to build Panamax size ships," stated a senior official from the joint venture, highlighting the long-term aspirations of the project. The substantial investment reflects the partners’ confidence in the project's potential and the growing demand for larger vessels in the maritime industry. The land handover to the joint venture is expected to occur in the coming days, marking a crucial milestone in the project's timeline. The lease agreement was finalized through a competitive tender process, ensuring transparency and efficiency.

Mandovi Drydocks, a well-established player in the shipbuilding and repair sector, brings its extensive experience and technical expertise to the venture. The company operates facilities in Bicholim and Rassaim, Goa, and a large dry dock and shipbuilding facility in Dabol, Maharashtra. Ripley Group contributes its strong foothold in stevedoring, port terminal operations, and ship management. The group’s diversification into ship owning and operating, through its Dubai-based subsidiary Panbulk Shipping DMCC, further strengthens the joint venture's capabilities.

This initiative underscores the strategic importance of leveraging India's vast coastline and port infrastructure to bolster its shipbuilding industry. The deal is a testament to the government's efforts to monetize port assets and attract private investment in maritime infrastructure. The Syama Prasad Mookerjee Port's strategic location and connectivity make it an ideal location for a modern shipbuilding facility.

The project aligns with the broader trend of major ports in India leasing land to shipyards for expansion and development. Notably, Cochin Shipyard Ltd recently inaugurated a Ra. 970 crore international ship repair facility at Cochin Port, showcasing the growing momentum in the sector. Additionally, Deendayal Port Authority has invited bids for a 2,000-acre integrated shipbuilding cluster, signaling a nationwide push to enhance shipbuilding capacity.