Chennai, September 20 (IANS) Tamil Nadu on Saturday took an important jump in the maritime sector, signed on two ultra mega Memorenda of Understanding (MoU) to set a world class commercial shipyard on a joint investment of Rs 30,000 crore.
Projects expected to generate about 55,000 jobs are seen as a transformative step in making the state a global center for shipbuilding and maritime innovation.
According to Industry Minister TRB Raja, Cochin Shipyard Limited (CSL) and Majagon Dock Shipbuilders Limited (MDL) will invest Rs 15,000 crore every Rs 15,000 crore to set up a Greenfield commercial shipyard in Tamil Nadu. The agreement was signed during the MoU Exchange on the Maritime Sector Event.
The CSL project will generate more than 10,000 jobs in its first phase, including 4,000 direct and 6,000 indirect positions. Meanwhile, MDL’s shipyard is estimated to make employment for more than 45,000 people, with 5,000 direct and 40,000 indirect opportunities.
Raja said, “These two ultra mega projects emerge as a global center for Tamil Nadu’s shipbuilding and maritime innovation, unlocking unprecedented opportunities for economic development, employment generation and stability in the region,” said the king.
Chief Minister MK Stalin announced the formation of a dedicated company to promote shipbuilding in the state earlier this year, speaking at the TN Rising -Thathukudi Conclave. According to this vision, the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) and Voc Port, Thootukudi, first signed a Moo in September to make a special purpose vehicle to carry forward the initiative of ship -making.
The step is ahead of the Tamil Nadu Maritime Transport Manufacturing Policy 2025, which will provide the outline to develop the sector.
Officials said the new shipyards will not only increase India’s marine infrastructure, but will also place Tamil Nadu at the forefront of technical capacity in the global ship -making industry. The projects are expected to attract industries, strengthen the coastal economy and create a wave effect of opportunities for small and medium enterprises.
With these developments, Tamil Nadu aims to strengthen its place as a leader in marine trade, logistics and advanced shipbuilding, indicating a new era of industrial development for the state.
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