Cochin Shipyard Approves ₹1,800 Crore ISRF Joint Venture With DDW

Board approved 50:50 JV with Drydocks World Dubai to own/operate Kochi ISRF for vessels up to 130m/6000T plus 10 workstations. ISRF slump sale at Rs 1800 Cr-plus, half cash half JV shares. First operating-asset JV with global yard operator; prior JVs were early-stage. DDW gets 3 of 5 board seats plus CEO/CFO/COO, so operating control passes despite 50:50. Aims to lift lumpy repair. Needs Port, GoI and shareholder nod under Reg 37A; closure by FY-end. CSL gets half cash plus 50% JV stake; capex for 10 workstations, lease and earnings impact not disclosed.