Mandovi Drydocks, an Indian ship repair and construction company, and Ripley Group, a Singapore-based maritime solutions provider, have formed a joint venture (JV) to establish a shipyard at Kolkata Port.
The project, valued at approximately $150 million, aims to enhance shipbuilding and repair capabilities in eastern India. The JV, named Mandovi-Ripley Shipyards Pvt. Ltd., will develop a 50-acre facility at the Netaji Subhas Dock within Kolkata Port, with an initial capacity to build vessels up to 75,000 deadweight tons (DWT) and repair ships up to 120,000 DWT.
Construction is scheduled to begin in Q3 2025, with operations expected to start by 2028, as reported by The Economic Times. The shipyard will create 1,200 direct jobs and an additional 2,500 indirect jobs.
Mandovi Drydocks, based in Goa, brings its expertise in ship repair, having handled 150 vessels in 2024, including tankers and bulk carriers.
Ripley Group, known for its maritime logistics and engineering solutions, contributed $75 million in equity, while Mandovi Drydocks invested $50 million, with the remaining $25 million sourced from loans.
“This partnership strengthens India’s maritime infrastructure and positions Kolkata Port as a key hub for shipbuilding in Asia,” Ripley Group CEO Sanjay Kapoor stated in a January 2025 interview with TradeWinds.
Kolkata Port, operated by Syama Prasad Mookerjee Port, handled 62.3 million metric tons of cargo in 2024, a 5% increase from 2023, according to the Indian Ports Association.
The JV secured preliminary approvals from the Kolkata Port Trust in December 2024, with land allocation finalized at $12 million. Construction costs are estimated at $110 million, with $40 million allocated for equipment, including cranes and dry docks from Hyundai Heavy Industries and Mitsui Engineering & Shipbuilding.
The shipyard will cater to domestic demand, particularly from the Indian Navy and coastal shipping, and target export markets in Southeast Asia. The Kolkata shipyard will compete with facilities in Cochin and Mumbai, where Cochin Shipyard reported a $300 million order backlog for 2025.
Mandovi Drydocks is an Indian ship repair and construction company based in Goa, established in 1991, specializing in repairing and building vessels for commercial and naval clients.
Ripley Group is a Singapore-based maritime solutions provider, founded in 2005, offering logistics, engineering, and port development services across Asia.