<h1>Indian shipbuilder acquires controlling stake in Sri Lankan dockyard for USD 52.96 million in first international venture</h1> A state-run Indian shipbuilder has agreed to acquire a controlling stake in a Sri Lankan dockyard company for USD 52.96 million, marking its first international venture. The acquisition involves the largest shipyard in the island nation, located at a strategic port position in the Indian Ocean Region. The deal combines primary investment and secondary share purchases from the current majority shareholder. Officials indicate this move will expand the Indian company's regional presence, provide continuous revenue streams from ship repairs across the subcontinent, and help counter strategic influence concerns in the region while supporting the financially distressed target company.