United Shipbuilding Corporation and Cochin Shipyard Limited sign Memorandum on Cooperation

United Shipbuilding Corporation (USC, Russia) and Cochin Shipyard Limited (CSL, India) have signed a Memorandum on Cooperation, USC says in a press release.

The document was signed by Aleksey Rakhmanov, USC President, and Madhu S Nair, CSL BoD Chairman, in the presence of Shri Nitin Jairam Gadkari, Minister of Transport of the Republic of India.

The MoU provides for cooperation under the large scale programme of India intended to improve the efficiency of using water transport routes, joint participation in designing and construction of state-of-the-art ships for inland water ways and coastal shipping.

In particular, it covers the construction of high-speed vessels of sea/river class, dry cargo carriers, cruise and passenger ships, tankers and air-cushion crafts.

The parties agreed to cooperate in civil shipbuilding during the meeting with Shri Nitin Jairam Gadkari held in Deli, India in September 2017.

United Shipbuilding Corporation (USC OJSC) is the largest shipbuilding company in Russia. It was set up in 2007 with 100% federal ownership. The holding comprises 40 companies and organizations (major shipbuilding and shiprepairing companies as well as leading design bureaus). Currently, USC consolidates the bulk of the domestic shipbuilding complex. The Russian market is the main focus of the state corporation though it also exports its products to 20 countries worldwide.