Newsletter
Mazagon Dock Shipbuilders has signed a deal with National Shipbuilding and Heavy Industries Park-AP to develop a greenfield shipyard at Dugarajapatnam in Andhra Pradesh, with the company planning to invest around ₹15,000 crore over the next five to seven years.
The details: the proposed shipyard will have a design capacity of 1.2 million gross tonnes per annum, with room for expansion depending on market demand.
It will cater to commercial vessels, including tankers, bulk carriers, container ships, liquefied natural gas (LNG) carriers and other large specialised vessels.
What matters: Mazagon Dock is largely known for building warships and submarines. This project will help it expand into large commercial ships as well. A project of this size could also create opportunities for businesses supplying ship parts, equipment and engineering services.
Big picture: nearly 95% of the country’s trade by volume and about 70% by value travels by sea.
India is now trying to build more ships at home and strengthen its maritime industry. The Maritime India Vision 2030 includes over 150 initiatives involving ₹3-3.5 lakh crore of investment, while the government has also announced a ₹69,725 crore package to support shipbuilding.
