The Economic Times

Mazagon Dock acquires 51% stake in Colombo Dockyard for Rs 249.5 crore in first international acquisition

Mazagon Dock Shipbuilders Limited has acquired a 51% stake in Colombo Dockyard PLC. This marks India's first international acquisition in shipbuilding. The deal valued at Rs 249.5 crore strengthens MDL's regional presence. Colombo Dockyard is now a subsidiary of MDL. This move aligns with India's maritime strategy. The acquisition leverages Colombo Dockyard's strategic location and capabilities.