Overview

• Cochin Shipyard and Mazagon Dock signed MoUs with the Tamil Nadu government to invest Rs 30,000 crore in a new shipbuilding hub at Thoothukudi.
• A Detailed Project Report will be prepared for the Thoothukudi facility as the project moves from announcement to planning.
• Minister Sarbananda Sonowal said the proposed hub is intended to build naval warships or large commercial vessels, including VLCCs, based on demand.
• The India Ship Technology Centre opened at IMU Visakhapatnam with a Rs 305 crore budget to provide shared R&D, design and skilling infrastructure for the sector.
• Sonowal signaled a forthcoming National Shipbuilding Mission and a revamped assistance scheme with Rs 24,736 crore to reduce foreign freight outgo and create jobs.