Mazagon Dock Shipbuilders Ltd (MDL), India鈥檚 premier defence public sector shipyard, has announced a significant step in its strategic evolution with the approval of a proposed acquisition of a controlling stake in Colombo Dockyard PLC (CDPLC), Sri Lanka鈥檚 largest and most established shipyard. The investment, valued at up to $52.96 million, will be carried out through a combination of primary infusion and secondary share purchase, including the acquisition of shares from Onomichi Dockyard Co. Ltd., the current majority shareholder. Upon completion, subject to customary regulatory approvals and closing conditions, CDPLC will become a subsidiary of MDL.
鈥淭his is not just an acquisition鈥搃t is a gateway. It marks our first international foray and reflects our ambition to transform into a global shipbuilding enterprise. With CDPLC鈥檚 strategic location, proven capabilities, and strong regional presence, this step will position MDL as a key player in South Asia and lay the foundation for our emergence as a global shipyard,鈥 said Capt Jagmohan, Chairman and Managing Director of MDL.
This proposed acquisition marks MDL鈥檚 first international venture and is a major milestone in the company鈥檚 transformation from a purely domestic shipbuilder into a regional maritime player with global aspirations. Strategically located within the Port of Colombo, CDPLC offers MDL a strong operational foothold in the Indian Ocean Region鈥攐ne of the busiest and most geopolitically significant maritime corridors in the world. With this acquisition, MDL positions itself not only to strengthen its presence in the region but also to enhance its competitiveness in the global shipbuilding and marine engineering arena.
Colombo Dockyard PLC brings to MDL more than five decades of experience in shipbuilding, ship repair, and heavy engineering. The company has a track record of delivering complex offshore support vessels, cable-laying ships, tankers, and patrol boats for clients across Japan, Norway, France, the UAE, India, and several African nations. It is the only shipyard in Sri Lanka offering an integrated portfolio of services鈥攔anging from in-house design and construction to advanced repair and marine steel fabrication. CDPLC operates four drydocks and multiple berths capable of handling vessels up to 125,000 DWT and maintains compliance with ISO and classification standards such as DNV, Lloyd鈥檚 Register, ABS, and IRS. In addition to its technical strengths, CDPLC is actively pursuing a pipeline of orders exceeding USD 300 million, which includes cable laying ships, multi-purpose utility ships, and newbuild fleet support vessels. With MDL鈥檚 support鈥攑articularly in technology sharing, access to Indian supply chains, and entry into Indian and allied maritime markets鈥擟DPLC is well positioned for financial turnaround and long-term growth. The acquisition aligns closely with India鈥檚 Maritime Amrit Kaal Vision 2047, which envisages India鈥檚 emergence as a leading maritime power with strong regional integration and industrial capabilities. It also supports MDL鈥檚 broader vision to foster maritime self-reliance, promote regional cooperation, and create a competitive, multi-location shipbuilding enterprise anchored in Indian expertise. Mazagon Dock Shipbuilders Limited, headquartered in Mumbai, is India鈥檚 leading builder of warships and submarines and has played a pivotal role in the country鈥檚 naval modernization. Colombo Dockyard PLC, listed on the Colombo Stock Exchange, is the flagship of Sri Lanka鈥檚 maritime industry and serves a wide spectrum of commercial and governmental clients across Asia, the Middle East, and Africa.