Cochin officials say the company believes its proposed drydock and shiprepair facility are “financially unsuitable under the market conditions”.
They note that two yards already operate on the east coast — Hoogly Dock & Port Engineers at Kolkata and Larsen & Toubro (L&T) at Kattupalli near Chennai.
L&T’s yard is currently building ships and is capable of repairing large vessels, while Hoogly Docks repairs smaller tonnage under 20,000 dwt.
