New Delhi, June 27 -- In its first-ever international acquisition, Mazagon Dock Shipbuilders Limited (MDL) on Friday announced that it has decided to acquire a controlling stake in Colombo Dockyard PLC (CDPLC), which is Sri Lanka's largest shipbuilding and repair facility.

The deal, valued at around $52.96 million, aligns with Maritime Amrit Kaal Vision 2047, which aims to strengthen India's maritime industry.

MDL is set to acquire a controlling stake in Colombo Dockyard PLC, Sri Lanka's largest shipyard, in a deal worth up to $52.96 million, marking MDL's first international acquisition, the company said on X (formerly Twitter).

The acquired company is located in the Port of Colombo, giving MDL a strategic foothold in the Indian Ocean...