Tamil Nadu signs MoUs for Rs 30,000 crore ship-building projects

Chennai, Sep 20 (IANS) Tamil Nadu took a significant leap in the maritime sector on Saturday with the signing of two ultra mega memoranda of understanding (MoUs) to establish world-class commercial shipyards at a combined investment of Rs 30,000 crore.

The projects, expected to generate around 55,000 jobs, are seen as a transformative step in making the state a global hub for shipbuilding and maritime innovation.

According to Industries Minister T.R.B. Rajaa, Cochin Shipyard Limited (CSL) and Mazagon Dock Shipbuilders Limited (MDL) will each invest Rs 15,000 crore to set up greenfield commercial shipyards in Tamil Nadu. The agreements were signed during the MoU exchange ceremony at the Transforming Maritime Sector event.

CSL’s project will generate over 10,000 jobs in its first phase, including 4,000 direct and 6,000 indirect positions. MDL’s shipyard, meanwhile, is projected to create employment for more than 45,000 people, with 5,000 direct and 40,000 indirect opportunities.

“These two ultra mega projects mark Tamil Nadu’s emergence as a global hub for shipbuilding and maritime innovation, unlocking unprecedented opportunities for economic growth, job creation, and sustainability in the sector,” Rajaa said.

Chief Minister M.K. Stalin, speaking at the TN Rising – Thoothukudi Conclave earlier this year, had announced the formation of a dedicated company to promote shipbuilding in the state. In line with this vision, the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) and V.O.C. Port, Thoothukudi, signed an MoU earlier in September to create a special purpose vehicle to advance shipbuilding initiatives.

The move comes ahead of the Tamil Nadu Maritime Transport Manufacturing Policy 2025, which will provide the framework for developing the sector.

Officials said the new shipyards would not only enhance India’s maritime infrastructure but also position Tamil Nadu at the forefront of technological capability in the global shipbuilding industry. The projects are expected to attract allied industries, strengthen the coastal economy, and create a ripple effect of opportunities for small and medium enterprises.

With these developments, Tamil Nadu aims to consolidate its place as a leader in maritime trade, logistics, and advanced shipbuilding, signalling a new era of industrial growth for the state.

--IANS

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