: The foundation for the country's largest dry dock at Cochin Shipyard was laid by Union Minister Nitin Gadkari and Kerala Chief Minister Pinarayi Vijayan here Tuesday.
The dry dock, being constructed at a cost of Rs 1,799 crore, would give an impetus to "Make in India" initiative under Sagarmala and raise India's share in global shipbuilding market to two per cent from 0.66 at present, officials said.
Speaking at a function on the occasion, the Union Minister for Shipping, Road Transport and Highways said the government has no plans to privatise CSL and other profit making Public Sector Units in the country.
Officials said the Dry Dock would be 310 metres long, 75 metres wide and have a depth of 13 metres.
The commercial ship building industry in India is worth Rs 3,200 crore and focuses primarily on small-medium sized offshore vessels and cargo/bulk carriers.
At present, Cochin Shipyard has two dry docks, one predominantly used for ship building of size 255m x 43 x 9m and capacity 1,10,000 DWT and the other one for ship repair of size 270 x 45 x 12m and capacity 1,25,000 DWT.
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