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In a landmark move Mumbai-based Mazagon Dock Shipbuilders Limited (MDL) has announced its intent to acquire a controlling stake in Colombo Dockyard PLC (CDPLC), Sri Lanka’s premier shipbuilding and repair facility. The proposed investment, valued at up to USD 52.96 million, represents MDL’s first international acquisition and a significant step in its strategy to expand beyond domestic waters.
The transaction, which involves a mix of primary investment and purchase of shares—including those held by current majority stakeholder Onomichi Dockyard Co. Ltd. of Japan—will position CDPLC as a subsidiary of MDL, pending regulatory approvals and final closure.
CDPLC’s strategic location in the Port of Colombo offers MDL an operational hub in the Indian Ocean Region, a key global maritime corridor. The move enhances MDL’s capacity to serve both military and commercial shipbuilding needs across Asia and beyond.
“This is not just an acquisition – it is a gateway,” said Capt. Jagmohan, Chairman and Managing Director of MDL. “It marks our first international foray and reflects our ambition to transform into a global shipbuilding enterprise. With CDPLC’s 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.”
With over 50 years of shipbuilding experience, CDPLC brings to the table a comprehensive range of services, including in-house design, shipbuilding, heavy engineering, and marine steel fabrication.
Its facilities include four dry docks and several berths capable of accommodating vessels up to 125,000 DWT. The company serves a diverse clientele, spanning Europe, the Middle East, Africa, and Asia.
CDPLC is currently pursuing a robust order book estimated at over USD 300 million, which includes contracts for cable-laying vessels, multi-purpose utility ships, and fleet support vessels. The acquisition is expected to create synergies in technology, supply chain integration, and market access, especially with MDL’s backing.
The deal also aligns with India’s “Maritime Amrit Kaal Vision 2047,” a long-term strategy that seeks to elevate India’s status as a maritime power by fostering international partnerships and enhancing shipbuilding capacity across regions.
MDL, based in Mumbai, is India’s foremost defence shipyard and a key player in the country’s naval modernization efforts. The company is best known for constructing frontline warships and submarines for the Indian Navy.
Colombo Dockyard PLC, listed on the Colombo Stock Exchange, is widely recognized as the flagship of Sri Lanka’s maritime sector, catering to both commercial and government customers across multiple continents.
