Mazagon Dock enters global waters with a $53M buyout of Colombo Dockyard, boosting India’s maritime vision.
In a landmark international move, Mazagon Dock Shipbuilders (MDL) is stepping beyond India’s shores for the first time. The defence shipbuilding PSU has announced its acquisition of a controlling stake in Colombo Dockyard PLC, Sri Lanka’s largest shipbuilding and repair facility, for $52.96 million.
Located at the strategic Port of Colombo, the acquisition gives MDL a crucial maritime foothold in the Indian Ocean Region, an increasingly vital corridor for global trade and regional security. The move signals MDL’s evolution from a domestic shipbuilder to a regional force with global ambitions.
“This is not just a business expansion; it’s a strategic leap,” said the company on the social media platform X (formerly Twitter). The deal also fits squarely within the framework of India’s Maritime Amrit Kaal Vision 2047, the long-term national roadmap to elevate the country’s maritime strength and self-reliance.
By acquiring Colombo Dockyard, MDL strengthens not just its own portfolio but also India’s regional maritime influence, expanding its role in shipbuilding, repairs, and strategic defence collaborations in South Asia.
A key player in India’s defence ecosystem, MDL is known for building warships, submarines, and a range of naval assets for the Indian Navy. As a public sector undertaking under the Ministry of Defence, MDL’s move is also seen as part of a broader national effort to globalise Indian defence manufacturing and increase capital expenditure under the ‘Make in India’ push.
With defence PSUs now in the spotlight thanks to increased localisation and policy reforms, this acquisition places MDL firmly on the map as India’s maritime envoy in the Indian Ocean, one vessel at a time.
Source: Mint
