New Delhi, Feb 3 : Cochin Shipyard Ltd (CSL) on Friday inked an MoU with Russias' United Shipbuilding Corporation (USC) to collaborate and engage in design, development and execution of contemporary state of art vessels for inland and costal waterways, an official statement said.
The MoU was signed by CSL Chairman and Managing Director Madhu S Nair, and USC President Alexey Rakhmanov, in the presence of Indian Shipping Minister Nitin Gadkari.
"CSL and USC will collaborate for development of high-speed vessels, river-sea cargo vessels, passenger vessels, dredgers, and other watercraft for inland waterways and coastal shipping," said a statement adding that the MoU will give a push to the 'Make in India' programme, as also its plans to develop eco-friendly and economic transportation along India's inland waterways and coastal shipping routes under Sagarmala.
"There is a huge potential in inland waterways, cruise tourism and RO-RO transportation in the country.
This collaboration would certainly bring in the much needed product as well as market innovation while harnessing newer technologies," said Gadkari.
USC is a Joint Stock company and the largest shipbuilding holding in Russia incorporating about 40 enterprises including shipyards, with more than 300 years of experience, which have been key contributors to the growth of inland waterways in Russia.