Wärtsilä India, the Indian arm of Finland-based Wärtsilä Corporation, has signed a Memorandum of Understanding (MoU) with Cochin Shipyard Ltd (CSL) on 13th January 2016. As per the MOU, Wärtsilä plans to locate a containerised self-sufficient workshop within the premises of CSL to cater primarily to propeller blade metallurgical repairs and engine component repairs. Wärtsilä also plans to support CSL with comprehensive Engine Services, Propulsion Services, and Electrical & Automation services, based on the latter’s requirements.
The MoU was signed by Mr. Sunny Thomas, Director (Technical & Operations), Cochin Shipyard Limited & Mr. James Rajan, Director, Service Unit South Asia, Wärtsilä India in the presence of CMD, CSL and other senior officials of Cochin Shipyard Limited & Wärtsilä India.
With this MOU, CSL is expected to attract more ship-repair business at its present facility. The agreement also gives Wärtsilä an opportunity to set up an Original Equipment Manufacturer centre (OEM) at the Cochin Port Trust Area in the future.
CSL had taken over the existing ship-repair facility in the Cochin Port Trust area through a lease agreement. The yard is planning to set up a new international ship repair facility in the area with a shiplift system. The existing facility in the area – which so far had been put to minimal use in the past – was revamped and put into operation by CSL, with employees being reskilled and retrained. Since then, the ship-repair facility has started to generate revenue in the last couple of years. CSL’s MOU with Wärtsilä India is expected to attract more business opportunities.
Said Mr Rajan of Wärtsilä India, “We are extremely happy to have this understanding with CSL where both organisations are able to co-create customised service solutions which will benefit customers. This is a significant step for us in India. As a next step, we are looking forward to having a full-fledged Original Equipment Manufacturer (OEM) centre in the upcoming ship-repair yard at Cochin Port. Through this self-contained facility in Cochin, we will be able to serve CSL and the marine industry in this region much faster.”
Mr. Madhu S. Nair, CMD of CSL said, “We are really happy to partner with Wärtsilä India. Both our companies enjoy brand visibility and recognition in this region. We expect that combining of the strengths of both companies is a significant event in the Indian ship-repair sector. The synergy created by this understanding will be very good for the commercial interests of both partners as well as the general interest of the industry.”
About Wärtsilä Corporation and Wärtsilä India
Wärtsilä is a global leader in complete lifecycle power solutions for the Marine and Energy markets. By emphasising technological innovation and total efficiency, Wärtsilä maximizes the environmental and economic performance of the vessels and power plants of its customers. Wärtsilä operations in more than 200 locations in nearly 70 countries around the world.
In India, Wärtsilä has been present since the early 1980s, and has contributed immensely to the Power segment of the country. Wärtsilä has over 26 years of experience in providing complete lifecycle power solutions for the Indian energy market. In the marine market, Wärtsilä has delivered engines to vessels belonging to the Navy, Coast Guard, Port Trusts, Merchant Shipping, floating cranes and offshore rigs. Wärtsilä has offices and service centres in seven locations country-wide.
About Cochin Shipyard Limited
Cochin Shipyard Limited was incorporated in the year 1972 as a fully owned Government of India company. In the last three decades the company has emerged as a forerunner in the Indian Shipbuilding & Shiprepair industry. The yard is active in the commercial and defence sector Ship Building & Ship Repair. This yard can build and repair the largest vessels in India. It can build ships upto 1,10,000 DWT and repair ships upto 1,25,000 DWT. CSL has secured shipbuilding orders from internationally renowned companies from Europe & Middle East and is nominated to build the country’s first Indigenous Air Defence Ship.
CSL commenced ship repair operations in the year 1982 and has undertaken repairs of all types of ships including upgradation of ships of oil exploration industry as well as periodical lay up repairs and life extension of ships of Navy, UTL, Coast Guard, Fisheries and Port Trust besides merchant ships of SCI & ONGC. Cochin Shipyard has steadily posted impressive performance in the last several years. The yard’s turnover in 2014-15 was Rs 1860 crs as compared to Rs 1653 crs for the previous year and the Net Profit was Rs 235 crs for 2014-15 as compared to Rs 194 crores during the previous year. This performance is impressive in the light of the prevailing adverse market conditions.
For more information please contact:
GolinOpinion
Kinjal Naker
Kinjal.Naker@golinopinion.in
+91 98924 89074
Wärtsilä India
Sachin Kulkarni
sachin.kulkarni@wartsila.com
+91 9820199723
Smt Kala V
GM (IA) & Company Secretary
Cochin Shipyard Limited
Mob – 9895705113
E-Mail – kala.v@cochinshipyard.com