History of HCSL

Cochin Shipyard Limited (CSL), a “Mini Ratna Company” under the Ministry of Ports, Shipping and Waterways is the largest Ship Building and Ship Repair facility in India. The firm incorporated in 1972 as a Government of India company, builds Aircraft carrier, Tankers, Bulk carriers, Platform supply vessels, Patrol Boats, Diving support vessels, etc. CSL is also one of the leading shipbuilding companies for Indian Navy for building many complex vessels.

As part of business expansion strategy CSL formed a joint venture company with M/s. Hooghly Dock & Port Engineers Limited (HDPEL), Kolkata one of the oldest shipyards in India established in 1819. HDPEL built Tugs, Floating dry dock, Passenger vessel, Oil Tanker, Container Vessel etc. The JV Company registered in October, 2017 as per companies’ act 2013 is called “Hooghly Cochin Shipyard Limited (HCSL)”. As part of the JV conditions, HCSL is in receipt of assets of HDPEL including the two shipbuilding/ repair units located at Nazirgunge and Salkia at Howrah.

Pursuant to the approval of the Union Cabinet on October 03, 2019, HCSL became a wholly owned subsidiary of Cochin Shipyard Limited (CSL) with effect from November 01, 2019. Further, pursuant to the said approval, the land assets of HDPEL were transferred to the Government of India (GoI) in February, 2020, consequent to which the Government of India has replaced HDPEL as the Lessor. As HCSL was incorporated as a joint venture between CSL and HDPEL, the above events have resulted in cessation of the joint venture partnership between CSL and HDPEL.

The Company adopts the best Corporate Governance practices wherever possible and the report on Corporate Governance prepared in compliance with the Guidelines on Corporate Governance for Central Public Sector Enterprises issued by the DPE.