The Indian Mazagon Dock has just examined China in Sri Lanka waters

The state-run Mazagon Dock Builders Limited (MDL) in India controls the Colombo Dockyard PLC in Sri Lanka in a $ 52.96 million deal-an aggressive step aimed at expanding the marine footprint in India and prohibiting the increasing impact of China in the Indian Ocean.

The Takeove, the first international project in MDL, includes a mixture of capital leakage and stock purchase from Onomichi Dockyard Co in Japan, which had a 51 % stake. With the withdrawal of the Japanese company and Drai Lanka in the financial crisis, the Indian government intervened, recognizing the strategic void.

Located in Sri Lanka, the world is located next to some of the most crowded shipping corridors in the world. With its capabilities and location, the annihilation has long been seen as a prize in the regional marine competition. Officials said MDL control will not only lead to a stumbling Dockyard but also to reshape the ecosystem for building ships and repair it in South Asia.

This MDL step will allow the conversion of parts of the new repair and construction pipeline into a Sri Lankan facility, creating a continuous revenue flow while opening industrial synergy and design between Yardin. “This step will be placed as a major player in South Asia and laying the foundation for our appearance as a global shipping basin,” he quoted MDL CMD CAPT JAGMOHAN as saying in the economy.

According to the Japanese Sri Lankan government, the Japanese government requested to save the courtyard, but when that failed, India was asked to bring a strategic investor. MDL has emerged as the best competitor in view of his technical strength and deep financial base.

Waiting for organizational approvals, Colombo Dockyard PLC will become a full subsidiary of MDL – which leads to not only recruiting India to the shipyard, but a strategic location for the confrontation line in an area where the rivalry is increasingly competing for maritime control.