New Delhi, Sept. 11 -- Drydocks World, a DP World company, and Cochin Shipyard Ltd (CSL) have formed a 50:50 joint venture to operate and expand the International Ship Repair Facility (ISRF) in Kochi, the two companies said in a joint statement on Friday.

Dubai-headquartered Drydocks World and CSL will each hold a 50% stake in the joint venture, with initial capital funded through equity contributions from both parties. Financial details of the joint venture were not disclosed.

The joint venture will consolidate and expand the existing facility to service a wider range of vessels and meet the requirements of Indian, regional and international customers. The partnership will also create opportunities across ship repair, engineering, fabr...