InvestorQ : What is the nature of the deal between Cochin Shipyards and Siemens?
sarah Leo made post

What is the nature of the deal between Cochin Shipyards and Siemens?

Rashi Mehra answered.
3 years ago

As per their latest agreement, Siemens will provide advanced marine solutions for 23 electric boats of Cochin Shipyard. It may be recollected that Cochin Shipyards, which had recently come out with its IPO is the largest and most advanced shipbuilder in India.

Cochin Shipyard has shortlisted Siemens to implement advanced marine solutions for India’s first and only fleet of 23 electric boats that are fully equipped with electric propulsion and battery integrated technology. Siemens will equip these boats with electric propulsion drive train, energy storage integration and vessel automation technologies.

This is an interesting project because Cochin Shipyard is building these boats to strengthen the last mile connectivity for Kochi Metro Rail to connect all the islands in and around Kochi. The electric propulsion drive train system reduces fuel requirements, increases flexibility and in the process it minimizes environmental risks through appropriate design.

On the other hand, the energy storage systems developed by Siemens will help in stable and uninterrupted supply of power to maximize performance while ensuring zero carbon emissions. Siemens will also equip the boats with automation systems for safe, cost efficeitn and reliable operation of these boats.

The project is prestigious for Siemens because it is the first of its kind for inland waterways in India. This project perfectly fits in with Cochin Shipyard's vision towards sustainable marine transportation. Additionally, the leveraging of inland waterways will be instrumental in establishing an integrated mobility system for the people, goods and services.