Latest news with #MadhuSNair
New Indian Express
22-07-2025
- Business
- New Indian Express
Cochin Shipyard Limited backed startups set for DRDO projects
KOCHI: Artificial Intelligence solutions for port operations, Naval UAVs, under water navigation and diver communication system, and load assisted rotary stabilising system. These are among a range of technological innovations — developed by startups — that are being considered for Defence Research and Development Organisation (DRDO) projects. The maritime solutions attracted visitors at Ushus Sangamam, an exhibition of innovations developed by startups Cochin Shipyard had incubated in association with IIT Madras and IIM Kozhikode. The shipyard's Dolphin Club hosted the event on Monday. Cochin Shipyard has earmarked a corpus of `50 crore for the USHUS programme, with Rs 6.9 crore already invested in 16 startups, generating over 70 high-skilled employment opportunities for young professionals. 'In India, there is no dedicated startup funding scheme for the maritime space,' Cochin Shipyard chairman Madhu S Nair told TNIE. 'These innovations are not restricted to ship building or ship repair, which is our forte. Many of these ideas are exciting and look very positive and strong. We are actually using some of these in the projects for DRDO and others,' he said. Cochin Shipyard is committed to funding and supporting deep-tech and innovative startups in the maritime sector, he said. 'We look forward to building long-term, sustainable partnerships with startups to develop a vibrant, self-sustaining innovation ecosystem,' Madhu said. Through seed funding, Cochin Shipyard provides Rs 50 lakh each to the startups to develop the technology and Rs 1 crore each for a pilot project scheme where they have to prove the technology. In the third stage, the shipyard gives a commitment and invests in the technology. 'We haven't yet made any investment but we are evaluating a few possibilities. We have covered 16 startups through seed funding and the pilot programme. It is a very clear affirmation that we aren't doing this for any brownie points, but with the belief this is the way forward. We are happy to support innovation and are ready to commit more money into the system,' Madhu said. The startup ecosystem in India is booming, with quite a lot of initiatives on the horizon.
New Indian Express
06-07-2025
- Business
- New Indian Express
Cochin Shipyard to build large cargo vessels, signs MoU with Hyundai
KOCHI: Aiming to develop Kochi as a major hub of shipbuilding in the Indian Ocean region, the Cochin Shipyard Limited (CSL) inked a comprehensive Memorandum of Understanding (MoU) with HD Korea Shipbuilding and Offshore Engineering Ltd (KSOE), a subsidiary of HD Hyundai, one of the largest shipbuilders in the world, on Friday. The MoU sets the stage for long term cooperation between the two companies in various domains of shipbuilding and maritime development, which includes joint exploration of ship building opportunities in India and abroad, sharing of technical expertise to scale up to the global standards in shipbuilding, identification of initiatives to enhance productivity and capacity utilisation, and joint efforts to upskill and strengthen workforce. KSOE is a global leader in shipbuilding and marine engineering, with proven expertise in designing and constructing commercial vessels, naval platforms, and offshore infrastructure. The company oversees the operations of some of the world's largest shipyards, including Hyundai Heavy Industries, Hyundai Mipo Dockyard, and Hyundai Samho Heavy Industries. 'It is a strategic MoU which is expected to help both the CSL and KSOE develop facilities to build large merchant vessels. It opens opportunity for a robust economic activity and will create huge employment opportunities. Cochin Shipyard will gain technical expertise from the Korean method of shipbuilding, while the KSOE will gain access to the potentially fastest growing economy. Both the firms will be able to exchange knowledge in design equipment and skilling,' said CSL chairman and managing director Madhu S Nair.
New Indian Express
04-07-2025
- Business
- New Indian Express
Cochin Shipyard, Hyundai's KSOE sign MoU to develop Kochi as major shipbuilding hub
KOCHI: Aiming to develop Kochi as a major hub of ship building in the Indian Ocean region, the Cochin Shipyard inked a comprehensive Memorandum of Understanding with HD Korea Shipbuilding and Offshore Engineering Ltd (KSOE), a subsidiary of HD Hyundai, one of the largest shipbuilders in the world, on Friday. The MoU sets the stage for long term cooperation between the two companies in various domains of shipbuilding and maritime development, which includes joint exploration of ship building opportunities in India and abroad, sharing of technical expertise to scale up to the global standards in shipbuilding, identification of initiatives to enhance productivity and capacity utilisation and joint efforts to upskill and strengthen workforce. KSOE is a global leader in shipbuilding and marine engineering, with proven expertise in designing and constructing commercial vessels, naval platforms, and offshore infrastructure. The company oversees the operations of some of the world's largest shipyards, including Hyundai Heavy Industries, Hyundai Mipo Dockyard, and Hyundai Samho Heavy Industries. 'This is a strategic MoU which is expected to help both the CSL and KSOE develop facilities to build large merchant vessels. This opens the opportunity for a robust economic activity and will create huge employment opportunity. The Cochin Shipyard will gain technical expertise from the Korean method of shipbuilding, while the KSOE will gain access to the potentially fastest growing economy. Both the firms will be able to exchange knowledge in design equipment and skilling,' said Cochin Shipyard chairman and managing director Madhu S Nair.
New Indian Express
01-07-2025
- Business
- New Indian Express
CSL to build two tugs for Polestar Maritime Ltd
KOCHI: The Cochin Shipyard Ltd (CSL) has received an order from Polestar Maritime Ltd to build two 70-tonne bollard pull tugs. This is in addition to the three bollard pull tugs of similar capacity under construction at the Udupi Cochin Shipyard Ltd. Polestar Maritime is a major player in the niche market of harbour tugs, coastal towing and marine services at ports. The tugs will be built in accordance with the designs of Robert Allan Ltd, a leading design house for harbour tugs. CSL and Udupi-CSL have introduced the Robert Allan tugs in India, complying with the Approved Standardised Tug Design and Specifications (ASTDS) of the central government. The vessels will be jointly constructed by CSL and Udupi-CSL under a work-share agreement at the CSL yard in Kochi. The vessels will be propelled by two main engines of 1,838 kW and 2.7m propellers from Niigata IHI Power Systems, Japan. CSL has already delivered four tugs under the 'Made in India' initiative and the present order book includes 18 tugs and two green tugs, which are in various stages of construction. 'We are very happy to receive a repeat order from Polestar Maritime. CSL is committed to transform the industry by introducing the battery electric tugs through the upcoming Green Tug Transition Programme (GTTP) announced by the Union government.' said CSL chairman and managing director Madhu S Nair.
Time of India
30-06-2025
- Business
- Time of India
Cochin shipyard bags order worth Rs 120cr to build two bollard pull tugs
Kochi: Cochin Shipyard Ltd (CSL) received an order worth Rs 120 crore for building two vessels from Polestar Maritime Ltd, a maritime major in the country. Order was placed for two 70-tonne bollard pull tugs. This is in addition to the three similar tugs contracted earlier with Udupi Cochin Shipyard Ltd (Udupi-CSL), a wholly owned subsidiary of CSL. CSL authorities informed that tugs will be built to the designs of Robert Allan Ltd, world's leading design house for harbour tugs. CSL and Udupi-CSL have introduced Robert Allan Tugs in India, complying with Approved Standard Tug Design and Specifications (ASTDS) by Govt of India, for promoting Atmanirbhar Bharath initiatives. "Vessels will be jointly constructed by CSL and Udupi-CSL under a work-share agreement in CSL's yard in Kochi. Vessels will be propelled by two main engines of 1838 kW and 2.7m propellers from Niigata IHI Power Systems Co Ltd Japan," says a press note issued by CSL. CSL Group has delivered four tugs under Make in India initiative, and with the latest contract, total number of orders has become 18 tugs and two green tugs, which are in various stages of construction, it says. CSL is very happy to receive a repeat order from Polestar and is also committed to transforming the industry by introducing battery electric tugs through the upcoming Green Tug Transition Programme (GTTP) announced by Govt of India," said CSL chairman and managing director Madhu S Nair.
