Under the proposed transaction, Cochin Shipyard will transfer the ISRF to the new joint venture on a slump-sale basis for at least Rs 1,800 crore

Cochin Shipyard has approved the formation of a 50:50 joint venture with Drydocks World–Dubai FZCO, a DP World company, to operate and manage its International Ship Repair Facility (ISRF) at Willingdon Island in Kochi.

Under the proposed transaction, Cochin Shipyard will transfer the ISRF to the new joint venture on a slump-sale basis for at least Rs 1,800 crore. Half the consideration will be received in cash, while the remaining half will be paid through shares in the JV. The transaction is significant for Cochin Shipyard, with the Rs 1,800 crore valuation of the facility equivalent to around 30.55 per cent of the company's net worth as of March 31, 2026......

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Via www.businessworld.in