Mazagon Dock Shipbuilders Limited, which operates as India’s premier Defence
Public Sector Undertaking under the Ministry of Defence, Government of India,
has officially announced a landmark international expansion.
The company has successfully completed the acquisition of a controlling 51 per
cent stake in Colombo Dockyard PLC, the largest shipyard in Sri Lanka. As a
result of this financial transaction, Colombo Dockyard PLC has now formally
become a subsidiary of the Indian shipbuilding giant.
Mazagon Dock Shipbuilders Limited (MDL), India’s Defence Public Sector Undertaking under the Ministry of Defence, Government of India, announces that Colombo Dockyard PLC (CDPLC), Sri Lanka’s largest shipyard, has become a subsidiary of MDL following completion of the acquisition… pic.twitter.com/niGpOJKkCW
— ANI (@ANI) April 11, 2026
The total investment made by Mazagon Dock Shipbuilders Limited for this
majority shareholding is valued at 26.8 million US dollars. This move is
particularly noteworthy as it represents the first international acquisition
ever undertaken by the Mumbai-based shipbuilder.
It is viewed as a transformative step that aligns closely with the objectives
of the Maritime Amrit Kaal Vision 2047, which seeks to bolster India’s
maritime presence and infrastructure on a global scale.
Following the change in ownership, the Board of Directors at Colombo Dockyard
PLC has been restructured to include nominees from Mazagon Dock Shipbuilders
Limited.
Capt Jagmohan (Retd), who serves as the Chairman and Managing Director of MDL,
has been appointed as the Non-Executive Chairman of the subsidiary, with his
tenure beginning on 7 April 2026.
Other key appointments to the reconstituted board include Mr Biju George, the
Director of Shipbuilding at MDL, and Mr Ruchir Agrawal, the Director of
Finance at MDL. These appointments ensure that the parent company’s leadership
is directly involved in the strategic oversight of the Sri Lankan facility.
Consistency in operational leadership is maintained through Mr Thimira S.
Godakumbura, who will continue in his current role as the Managing Director
and Chief Executive Officer of Colombo Dockyard PLC. Additionally, the board
welcomes Mr Vish Govindasamy, the Deputy Chairman of Sunshine Holdings PLC,
who has joined the leadership team as an MDL Nominee Director.
ANI
