CSL bullish on inland waterways

Basking in IPO success, Cochin Shipyard (CSL) is now drawing up huge expansion plans, including one of foray into inland water transport.

Its IPO in August turned out to be a blockbuster that received more than Rs 1.11 lakh crore worth of bids as against the offer size of Rs 1,442 crore.

“We have currently undertaken three major expansion projects -- a dry dock in Cochin with an investment of Rs 1,800 crore; second, an international ship repair facility on the port trust land at a cost of Rs 970 crore and third, we are making a foray into inland waterways transport,” Cochin Shipyard CMD Madhu S Nair said.

The PSU, Nair said, is on the same page with the government when it comes to thrust on waterways. CSL intends to build an international ship repair facility within the yard, for which it has leased a 42-acre plot from Cochin Port Trust.