Mazagon Dock Acquires Majority Stake in Colombo Dockyard

Mazagon Dock Shipbuilders Limited has acquired a 51% stake in Sri Lanka’s Colombo Dockyard, marking India’s first overseas shipyard acquisition valued at $26.8 million. The deal, completed in April 2026, makes Colombo Dockyard PLC a subsidiary of the Indian defence PSU under the Ministry of Defence. Colombo Dockyard, Sri Lanka’s largest shipbuilding and repair facility, has been operational since 1974 at the strategically important Port of Colombo, serving both civilian and defence sectors. This acquisition supports India’s Maritime Amrit Kaal Vision 2047 by expanding its naval manufacturing footprint internationally. The move also reflects increased strategic cooperation between India and Sri Lanka amid regional maritime geopolitical dynamics, including China’s growing presence in Sri Lankan ports.