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COCHIN SHIPYARD IN INDIA WINS MAJOR CONTRACT FROM CMA CGM FOR INITIAL CONTAINER SHIPS
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India’s endeavors to establish a dominant position in global shipbuilding have made significant progress as Cochin Shipyard has obtained its inaugural international contract for ocean-going containerships. India has been pursuing leading shipping firms to obtain contracts that will aid the government's initiative to establish shipbuilding as a key industry and exporter.
Cochin, in a regulatory submission, revealed what it calls a “mega order,” with the estimated value reported to be between $225 million and potentially exceeding $300 million. The company announced that it signed a letter of Intent on October 14 and will move forward with a formal shipbuilding agreement with “a significant European client.”