Cochin Shipyard signs MoU with Russian firm

February 03, 2018 12:00 am | Updated 04:37 am IST - Kochi

‘To bring in product innovation’

The State-owned Cochin Shipyard and the United Shipbuilding Corporation (USC) of Russia have signed a Memorandum of Understanding (MoU) to collaborate and engage in design, development, and execution of contemporary, state-of-the-art vessels for inland and coastal waterways.

The MoU was signed between Madhu S. Nair, Chairman and Managing Director of Cochin Shipyard, and Alexey Rakhmanov, president of the United Shipbuilding Corporation, in the presence of Union Transport, Shipping and Waterways Minister Nitin Gadkari in New Delhi.

A Cochin Shipyard press release quoted Mr. Gadkari as saying that inland waterways, cruise tourism, and RO-RO transportation had a huge potential for growth in India. “This collaboration will certainly bring in the much-needed product as well as market innovation while harnessing newer technologies,” the release quoted him.

Water-based transport

The massive push to water-based transport through infrastructure development efforts under the SAGARMALA programme of the government will open up opportunities for specialised vessels. The MoU is an effort to get ready to cater to the demand for different kinds of vessels expected in the near and medium term, the release said.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.