Tamil Nadu Attracts Rs 30,000 Crore Investment For Two Commercial Shipyards, Projected To Create 55,000 Jobs

In a significant development for Tamil Nadu's industrial landscape, the state has secured investments worth Rs 30,000 crore in the shipbuilding sector.

State's Minister for Industries T R B Rajaa announced on Saturday that these funds will facilitate the establishment of two major shipyards in Tuticorin district.

This move is expected to generate around 55,000 jobs, providing a substantial boost to employment in the region.

The announcement follows the signing of a Memorandum of Understanding (MoU) between the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) and the V O Chidambaranar Port Authority.

Rajaa shared details on social media, highlighting the state's proactive approach to attracting high-value investments.

"Today, a historic milestone has been achieved with the signing of two Ultra Mega MoUs in the shipbuilding sector to establish two world-class Greenfield commercial shipyards in Tamil Nadu , with an investment of ₹30,000 crore and generating employment for 55,000 people," Rajaa said.

According to the minister, Cochin Shipyard Limited will invest Rs 15,000 crore to establish a global-scale commercial shipyard, generating over 10,000 jobs (4,000 direct and 6,000 indirect) in the first phase.

Mazagon Dock Shipbuilders Limited will set up another global-scale commercial shipyard with an investment of Rs 15,000 crore, creating employment for more than 45,000 people (5,000 direct and 40,000 indirect).

This initiative aligns with Tamil Nadu's broader strategy to enhance its maritime infrastructure.

The shipyards will focus on building and repairing vessels, contributing to India's ambitions in global shipbuilding.

The investments come amid a series of successful conclaves, including the recent TN Rising event in Hosur, which secured deals worth Rs 24,307 crore across various sectors.

It is worth noting that similar efforts in other states, like Odisha's Rs 46,200 crore maritime deals, underscore a national push towards shipbuilding.

In Tamil Nadu, officials confirmed that the new yards will integrate with existing ports, improving logistics and trade efficiency.

As the projects progress, they are likely to position the state as a key player in Asia's shipbuilding industry.

Experts believe this could mark a turning point for Tuticorin's economy, traditionally reliant on fishing and small-scale industries.

With construction set to begin soon, the investments promise long-term benefits for thousands of families in the district.

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