Cochin Shipyard has announced the start of commercial operations at its International Ship Repair Facility (ISRF) in Kochi.
What Happened: The company declared the initiation of operations at the ISRF on Monday evening, following the successful docking of the vessel ‘HSC Parali’ of the Union Territory of Lakshadweep Administration.
The ISRF, a ₹970 crore project, is located on a 42-acre leased premises of the Cochin Port Authority at Willingdon Island, Kochi. The facility, equipped with a 6,000T ship-lift, six workstations, and approximately 1,400 metres of berths, can handle vessels of a maximum of 130 metres in length and repair six such vessels at the dry-workstations simultaneously.
Earlier in the month, the defence major reported its earnings for the quarter ended June. The company recorded a 65.3% year-on-year rise in net profit to ₹180.84 crore in the June quarter, with operational revenue jumping 59.83% to ₹709.84 crore. The company’s ship-building revenue rose 58.25% year on year to ₹465.06 crore while the ship repair revenue increased by 62.88% to ₹244.77 crore.