Mazagon Dock to acquire controlling stake in Sri Lanka’s Colombo Dockyard

The board of directors of India’s Mazagon Dock Shipbuilders has approved the acquisition of a controlling stake in Colombo Dockyard (CDPLC) in Sri Lanka.

The investment will not exceed Rs4.52bn ($52.96m) and will involve both primary subscriptions and secondary acquisitions from CDPLC shareholders, including Onomichi