Cochin Shipyard, SDHI, and L&T Bid for $1 Billion VLGC Project with SCI
Cochin Shipyard, SDHI, and L&T have expressed interest in a $1 billion project to build eight VLGCs initiated by SCI. The plan includes constructing two VLGCs internationally and six in India with technical partnerships. This initiative aims to enhance India's shipbuilding capabilities and position the country as a global shipbuilding hub by 2030.
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Cochin Shipyard Ltd, Swan Defence and Heavy Industries Ltd (SDHI), and L&T Shipbuilding Ltd have submitted expressions of interest to construct eight very large gas carriers (VLGCs) in a $1 billion project initiated by Shipping Corporation of India (SCI). The plan involves building two VLGCs at an international shipyard and six in India through partnerships.
This marks the first initiative of its kind for Indian shipyards. SCI, with a 50% stake in a joint venture alongside Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, Oil and Natural Gas Corporation, and Sagarmala Finance Corporation, aims to acquire 59 ships over five years with an investment of ₹15,000 crore. This project aligns with India's goal to rank among the top ten shipbuilding nations by 2030.
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