The offshore engineering services company Seatrium Letourneau USA, Inc. and the state-owned Cochin Shipyard Limited (CSL) have signed a memorandum of understanding (MoU) to cooperatively produce and distribute vital jack-up rig equipment to the Indian market. The partnership’s goal is to access the market for Mobile Offshore Drilling Units (MODUs) with creative, dependable, and effective design solutions tailored to India.
Cochin Shipyard, founded in 1972, is a significant provider of vessel construction, repair, and refit services, as well as periodic ship improvements and life extensions. CSL is well-known for its skill, having built and rebuilt some of the largest ships for important clients across the world, as well as exporting around 45 boats globally.
Cochin Shipyard Ltd Share Price
The share price of Cochin Shipyard Ltd. ended the day higher on the BSE, closing at ₹1,298.50, indicating a slight increase of ₹2.80, or 0.22%. The collaboration with SLET is anticipated to increase investor interest and improve the company’s prospects for long-term growth. Cochin Shipyard’s dedication to developing offshore drilling technology in India is demonstrated by its partnership with Seatrium Letourneau USA. The ‘Make in India’ policy of the government is in line with this strategic alliance, which also positions CSL as a major player in the country’s infrastructure and energy initiatives.
Seatruliem and Cochin Shipyard MoU
Cochin Shipyard Ltd. announced on Friday that it and Seatrium Letourneau USA, Inc. have signed a memorandum of agreement for the design and essential equipment of jack-up rigs for the Indian market. The agreement, according to the business, is to take advantage of chances for mobile offshore drilling units made to satisfy the demands of the Indian market by leveraging SLET’s technical know-how and design capabilities and CSL’s experience in shipbuilding.
