Indian shipbuilder buys majority stake in Sri Lanka’s largest yard

India’s state-run Mazagon Dock Shipbuilders Limited (MDL) has announced its first international acquisition by securing a controlling 51% stake in Sri Lanka’s Colombo Dockyard for $52.96m. The Sri Lankan yard had previously been controlled by Japan’s Onomichi Dockyard which had been looking for investors to take over its stake. Colombo Dockyard, established in 1974 and …

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