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Goa-based Mandovi Drydocks and Kolkata鈥檚 Ripley Stevedoring and Shore Handling Pvt Ltd have formed an equal joint venture to develop a shipbuilding and repair facility at Syama Prasad Mookerjee Port (formerly Kolkata Port). The venture will lease 121 acres of port land for 30 years, with an initial investment of $24 million. The facility will initially focus on building 6,000-8,000-ton ships before scaling up to 15,000 and 25,000-ton vessels within the first five to six years. Eventually, the partners plan to construct Panamax-size ships, with total investments projected to reach $240 million across all phases. The lease deal, finalized through a tender process, is set for execution in the coming days.Strengthening India鈥檚 Shipbuilding Footprint Mandovi Drydocks operates shipyards in Bicholim (North Goa), Rassaim (South Goa), and Dabol (Maharashtra). Meanwhile, Ripley Group, founded by Swapan Sadhan Bose, has a strong foothold in port operations at Haldia, Paradip, and Visakhapatnam and has expanded into ship ownership and management via Dubai-based Panbulk Shipping DMCC, led by Shoumik Bose. The initiative aligns with India鈥檚 push to monetize major port land by leasing it to private shipyards for shipbuilding and repairs. The government aims to strengthen domestic shipbuilding capabilities amid increasing global demand. Maritime Sector Expands with New Projects Recent developments in India's maritime sector underscore growing private-sector involvement. Last year, Cochin Shipyard Ltd inaugurated a $116 million international ship repair facility at Willingdon Island, Cochin Port, enhancing the country鈥檚 ship maintenance capacity. Additionally, Deendayal Port Authority (Kandla, Gujarat) has invited bids for 2,000 acres of land on a 30-year lease to develop an integrated shipbuilding cluster, further demonstrating the sector鈥檚 rapid expansion. A senior industry executive noted, 鈥淭his project will add much-needed shipbuilding and repair capacity in the eastern region, reinforcing India's position in the global maritime sector.鈥滻mage Source: Maritime Gateway