KOCHI: Cochin Shipyard Limited (CSL) and United Shipbuilding Corporation (USC), Russia has signed a memorandum of understanding (MoU) to collaborate and engage in design, development and execution of high-end, state-of-art vessels for inland and coastal waterways.
CSL & USC will associate in development of high speed vessels, river/sea cargo vessels, passenger vessels, hovercrafts and other watercrafts predominantly for the Indian waterways. CSL has recently incorporated a JV Company by name HCSL (Hooghly Cochin Shipyard Limited) at Kolkata, West Bengal, with plans of setting up an exclusive facility for construction and repair of vessels for inland and coastal waterways.
The signing of this MoU between CSL and USC is seen as an important step that will open the way to the wider participation of these organizations in the large-scale programme of the Centre to boost transportation & trade along India's Inland waterways under Sagarmala & Make-in-India programmes.
The MoU was signed between Madhu S Nair, Chairman & Managing Director, Cochin Shipyard Limited and Alexey Rakhmanov, President, United Shipbuilding Corporation, in the presence of Nitin Gadkari, Union Shipping Minister.