<ul data-eligibleForWebStory="false"><li>The Colombo Dockyard PLC (CDPLC) in Sri Lanka initiated a search for a strategic investor to purchase a 51% share of Japanese company Onomichi amidst various challenges.</li><li>Finding a strategic investor proved difficult due to governance instability, capital injection requirements, cash flow issues, and geopolitical factors surrounding Sri Lanka's maritime assets.</li><li>Despite challenges, Mazagon Dock Ltd (MDL) of India emerged as the preferred strategic investor for CDPLC, signing definitive agreements to acquire a controlling stake for up to $52.96 million.</li><li>The partnership between MDL and CDPLC is expected to enhance CDPLC's credibility, boost export potential, and improve Sri Lanka's sovereign credit rating, underscoring the importance of Sri Lanka-India collaboration in the region's economic landscape.</li></ul>

Reviving Sri Lanka’s maritime edge

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