Cochin Shipyard to acquire 23% stake in Netherlands-based Conoship for Rs.25-Cr

Publicly listed Ernakulam-based Cochin Shipyard is to acquire a 23% equity stake in the Netherlands-based ship design company, Conoship International Holding BV . The transaction is valued at a cash consideration of Euro 2.30 million (INR 25 crore).Founded in 1972, Conoship provides ship design and engineering services to a global client base, with a portfolio that includes general cargo vessels, tankers, dredgers, ferries, and offshore vessels.Cochin Shipyard plans to use this partnership to penetrate European coastal and short-sea shipping markets with advanced design solutions. Furthermore, the firms intend to jointly explore opportunities in technologies related to alternative fuels for short-sea vessels, coastal shipping, inland waterways, and other services within the marine and offshore industries.