Mazagon Dock buys Colombo Dockyard for ₹452 crore

In India’s first international shipyard acquisition, Mazagon Dock Shipbuilders Limited (MDL) last month acquired a 51% controlling stake in Sri Lanka’s Colombo Dockyard PLC (CDPLC), strengthening India’s maritime presence in the Indian Ocean Region. The process, which began in January 2025, concluded after over a year of regulatory and procedural steps. The move is seen as both strategically and commercially significant for both countries.

“This acquisition holds long-term significance for bilateral ties. CDPLC is a strong company with sound business practices. The move is mutually beneficial and has generated goodwill in Sri Lanka. We see significant synergies,” said Captain Jagmohan, Chairperson and Managing Director of MDL.