Mazagon Dock acquires controlling stake in Colombo dockyard for $26.8 m, move will help counter China's control of Lanka port
India's Mazagon Dock Shipbuilders Ltd (MDL) has acquired a 51% stake in Sri Lanka's Colombo Dockyard PLC for approximately Rs 249.5 crore. This strategic move aims to counter China's maritime influence in the region and strengthens India-Sri Lanka maritime cooperation. The acquisition is expected to boost CDPLC's revenue and profits.
India's Mazagon Dock Shipbuilders Ltd (MDL) has acquired a 51% stake in Sri Lanka's Colombo Dockyard PLC for approximately Rs 249.5 crore. This strategic move aims to counter China's maritime influence in the region and strengthens India-Sri Lanka maritime cooperation. The acquisition is expected to boost CDPLC's revenue and profits. What's Your Reaction?
