In its first international acquisition, Mazagon Dock Shipbuilders Limited (MDL) announced on Friday that it has decided to obtain a control stake in Colombo Dockyard PLC (CDPLC), the largest shipping and repairs in Sri Lanka.
The agreement worth approximately $ 52.96 million is in accordance with the naval Amrit Kaal Vision 2047 to strengthen the Indian naval industry.
Strategic support in the Indian Ocean area
FMS is ready to obtain a control stake in Colombo Dockyard PLC, the largest shipyard of Sri Lanka, in an agreement worth up to $ 52.96 million, which means the first international acquisition of the company, he said on X (formerly Twitter).
The acquired company is located in the port of Colombo and gives FM strategic support in the Indian Ocean area, a key naval corridor.
Thanks to this Agreement, MDL begins its transformation from the home builder of boat to a regional naval player with global ambitions.
This step, which is in line with the naval Amrit Kaal Vision 2047, strengthens the regional naval influence of India and expands the global reach of FMS, the company said in an official statement.
India is a front defensive shipyard
Mazagon Dock is a public defense sector that specializes in building and repairing warships, submarines and a wide range of other vessels for the Indian Navy and other clients.
The company is the leading Indian defensive shipyard and the public sector participating in the Ministry of Defense.
Defense shares have recently been in reports because the government focuses strongly on localization, on increasing capital expenditure in this sector and the “make-in-index” initiative, which leads the growth of industrial dog.
(Tagstotranslate) FM
