Chennai, Sep 20 (NationPress) Tamil Nadu has made a remarkable advancement in the maritime sector by signing two ultra mega memoranda of understanding (MoUs) to create world-class commercial shipyards, with a total investment of Rs 30,000 crore.

These initiatives are anticipated to generate approximately 55,000 jobs, marking a pivotal moment in transforming the state into a global center for shipbuilding and maritime innovation.

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

CSL’s project is expected to create over 10,000 jobs in its initial phase, comprising 4,000 direct and 6,000 indirect positions. Meanwhile, MDL’s shipyard is projected to provide employment opportunities for more than 45,000 individuals, with 5,000 direct and 40,000 indirect jobs.

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

Earlier this year, Chief Minister M.K. Stalin announced the establishment of a dedicated company to promote shipbuilding within the state. In alignment 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 form a special purpose vehicle aimed at advancing shipbuilding initiatives.

This decision comes ahead of the Tamil Nadu Maritime Transport Manufacturing Policy 2025, which will lay the groundwork for sector development.

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

Through these developments, Tamil Nadu aims to solidify its status as a leader in maritime trade, logistics, and advanced shipbuilding, heralding a new era of industrial growth for the state.