Tamil Nadu on Saturday announced a major breakthrough in its push to emerge as a global shipbuilding hub, with two ultra-mega projects worth Rs 30,000 crore set to come up in the state.
Tamil Nadu on Saturday announced a major breakthrough in its push to emerge as a global shipbuilding hub, with two ultra-mega projects worth Rs 30,000 crore set to come up in the state. The investments, formalised through MoUs signed at the Transforming Maritime Sector event in Thoothukudi, are expected to generate over 55,000 jobs.
Cochin Shipyard Limited will establish a world-class commercial shipyard with an investment of Rs 15,000 crore, creating 10,000 jobs in the first phase (4,000 direct and 6,000 indirect). Similarly, Mazagon Dock Shipbuilders Limited will set up another global-scale shipyard with an equal investment of Rs 15,000 crore, generating more than 45,000 jobs (5,000 direct and 40,000 indirect).
These projects follow the state government’s announcement of a dedicated company to promote shipbuilding, along with the upcoming Tamil Nadu Maritime Transport Manufacturing Policy 2025. Earlier this month, SIPCOT and V.O.C. Port signed an MoU to form a special purpose vehicle to support the development of shipbuilding.
Speaking on the development, Tamil Nadu Industries Minister T.R.B. Rajaa said, “We are really happy that the Government of Tamil Nadu and the Union Government have worked together to get Cochin Shipyard Limited to come into Tamil Nadu. I am hoping we will get to work with more such shipyards and get more shipbuilding activities going in the state. With Cochin Shipyard and Mazagon Dock together, we are now looking at about 55,000 jobs for Tamil Nadu.”
