Mazagon Dock Shipbuilders to acquire controlling stake in Colombo Dockyard for $52.96m.

From Yahoo Finance: 2025-06-30 12:14:00

India’s Mazagon Dock Shipbuilders has approved acquiring a controlling stake in Sri Lanka’s Colombo Dockyard for up to $52.96m. The deal involves primary subscriptions and secondary acquisitions, aiming to be completed in four to six months pending regulatory approvals. Upon completion, Mazagon will hold at least 51% equity in CDPLC, making it a subsidiary.

Colombo Dockyard, based at Port of Colombo, focuses on shipbuilding and repair, with a 2024 turnover of $84.4m and net worth of $17.6m. Mazagon aims to enhance its shipbuilding presence, leveraging synergies and expanding market reach through the acquisition. The move aligns with Mazagon’s long-term growth strategy.

The US DFC pledged over $550m in November 2023 for a deepwater container terminal at the Port of Colombo, the Indian Ocean’s largest transshipment hub. Operating at over 90% capacity since 2021, the port requires additional infrastructure to meet demand. Mazagon’s stake acquisition in Colombo Dockyard coincides with this strategic development.



Read more at Yahoo Finance: Mazagon Dock to acquire controlling stake in Sri Lanka’s Colombo Dockyard