Syama Prasad Mookerjee Port, Kolkata (SMPK), has left its joint venture structure with the Cochin Shipyard Ltd (CSL).
However, both entities have reaffirmed their commitment to work together for strengthening India’s Ship Repair Sector.
According to an official statement, the two ended their joint venture with a transfer of Rupper 5.94 crore as shared profits, generated by the Cochin–Kolkata Ship Repair Unit.
SMPK chairman Rathendra Raman got the cheque from Cochin Shipyard chairman and managing director Madhu Nair.
The handover happened during a visit to Cochin Shipyard’s ship repair facility in Cochin, per an official statement.
Rathendra Raman stated that the shared profits highlight the increasing competitiveness of India’s ship repair yards.
He added that collaborative models, which involve ports and shipyards, have a vital role in enhancing the government’s ‘Make In India’ initiative by decreasing the dependence on overseas repair facilities.
The joint venture has come to an end, and Kolkata Port has said it would focus on independently expanding ship repair capabilities.
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