State-run Cochin Shipyard Ltd and Mazagon Dock Shipbuilders Ltd will set up two new greenfield shipyards in Tamil Nadu, according to government documents.
The Tamil Nadu government on Saturday signed MoUs worth Rs 30,000 crore with the two public sector majors during the Samudra Se Samriddhi event in Bhavnagar, Gujarat, in the presence of Prime Minister Narendra Modi.
Industries minister T R B Rajaa said Cochin Shipyard will invest Rs 15,000 crore to build a global-scale commercial shipyard, creating over 10,000 jobs in the first phase, while Mazagon Dock will establish a similar facility with another Rs 15,000 crore, generating more than 45,000 jobs.
“These MoUs mark Tamil Nadu’s emergence as a global hub for shipbuilding and maritime innovation, unlocking opportunities for growth, jobs, and sustainability,” Rajaa posted on X.
The projects are expected to boost MSMEs linked to shipbuilding in Tuticorin, where both yards are planned. A dedicated state-owned company and a special purpose vehicle involving SIPCOT and VoC Port are also being set up to drive Tamil Nadu’s shipbuilding push under the upcoming Maritime Transport Manufacturing Policy 2025.
India’s shipbuilding capacity currently stands at 0.072 million gross tonnes (GT), well below the target of 0.33 million GT by 2030 and 11.31 million GT by 2047 outlined in the Maritime India Vision. India accounts for less than 1% of global shipbuilding and ranks 16th worldwide but aims to be in the top 10 by 2030 and top 5 by 2047.
Separately, Cochin Shipyard will also sign a long-term cooperation MoU with South Korea’s HD Korea Shipbuilding & Offshore Engineering Co. Ltd, one of the world’s largest shipbuilders, to collaborate on shipbuilding and maritime development.
Additional MoUs were signed at the event, including one between the Gujarat government and Swan Defence and Heavy Industries Ltd for shipyard expansion at Pipavav, and another between the Shipyards Association of India and the Indian Steel Association to promote the use of domestic steel.
Rajaa added that total investments under the DMK government have now crossed Rs 11 lakh crore, creating over 34 lakh jobs in the state.
