Mazagon Dock Acquires Majority Stake in Colombo Dockyard for $53 Million

In its first-ever international acquisition, Mazagon Dock Shipbuilders Limited (MDL) on Friday announced that it has decided to acquire a controlling stake in Colombo Dockyard PLC (CDPLC), which is Sri Lanka’s largest shipbuilding and repair facility.

The deal, valued at around $52.96 million, aligns with Maritime Amrit Kaal Vision 2047, which aims to strengthen India’s maritime industry.

Strategic foothold in Indian Ocean region MDL is set to acquire a controlling stake in Colombo Dockyard PLC, Sri Lanka’s largest shipyard, in a deal worth up to $52.96 million, marking the company's first international acquisition, it said on X (formerly Twitter).

The acquired company is located in the Port of Colombo, giving MDL a strategic foothold in the Indian Ocean Region, which is a key maritime corridor.

With this deal, MDL begins its transformation from a domestic shipbuilder to a regional maritime player with global ambitions.

Aligned with Maritime Amrit Kaal Vision 2047, this move strengthens India’s regional maritime influence and expands MDL’s global reach, the company said in the official statement.

India’s foremost defence shipyard Mazagon Dock is a defence public sector undertaking that specialises in building and repairing warships, submarines, and a wide range of other vessels for the Indian Navy and other clients.

The company is India’s foremost defence shipyard and a public sector undertaking under the Ministry of Defence.