Strategic shipyard deal: Mazagon Dock Shipbuilders to acquire controlling stake in Colombo Dockyard for $52.96 million; India eyes regional maritime edge

Mazagon Dock Shipbuilders Limited (MDL) is set to acquire a controlling stake in Colombo Dockyard PLC (CDPLC) for up to $52.96 million, marking its first international acquisition. This strategic move aims to expand India’s maritime influence in the Indian Ocean Region amidst China’s growing presence.