Mazagon Dock Shipbuilders Limited (MDL), India's Defence Public Sector Undertaking under the Ministry of Defence, Government of India, announces that Colombo Dockyard PLC (CDPLC), Sri Lanka's largest shipyard, has become a subsidiary of MDL following completion of the acquisition of a controlling 51% stake. MDL's total investment is valued at USD 26.8 million. This is MDL's first international acquisition and a transformative step aligned with the Maritime Amrit Kaal Vision 2047.
The Board of CDPLC has been reconstituted with MDL nominees: Capt Jagmohan (Retd), CMD, MDL, appointed Non-Executive Chairman (effective 7 April 2026); Mr Biju George. Director (Shipbuilding), MDL; Mr Ruchir Agrawal, Director (Finance), MDL; Mr Thimira S. Godakumbura, who continues as MD & CEO of CDPLC; and Mr Vish Govindasamy, Deputy Chairman, Sunshine Holdings PLC, as MDL Nominee Director.