CSL and HDPEL signs shareholders agreement for taking over manufacturing units of HDPEL

A shareholders’ agreement has been signed between Cochin Shipyard Limited (CSL) and Hooghly Dock and Port Engineering Limited (HDPEL) for taking over the manufacturing units of HDPEL. Earlier, in October 2017, CSL and HDPEL incorporated a JV, Hooghly Cochin Shipyard Limited, for the upgradation and modernisation of shipbuilding infrastructure at the two shipyard sites of Salkia and Nazirgunge in Kolkata. CSL and HDPEL have a 76 per cent and 24 per cent stake in the JV respectively.