Cochin Shipyard signs master ship repair agreement with US Navy

The Cochin Shipyard Limited (CSL), a government enterprise, has signed the Master Shipyard Repair Agreement (MSRA) with the United States Navy.

The MSRA is a non-financial agreement and is effective from April 5, 2024, the company informed stock exchanges on Saturday.

This will facilitate repair of US Naval vessels under Military Sealift Command in Cochin Shipyard.

"CSL (Cochin Shipyard) has been qualified for entering into the Master Shipyard Repair Agreement (MSRA) after a detailed evaluation process and capability assessment by the US Navy - Military Sealift Command," the state-owned company informed stock exchanges.

In 2024, the shares of Cochin Shipyard rose about 60 per cent to Rs 1,079. Over the past one year, they rose as high as 343 per cent, data showed.