1 hr ago
Andhra Pradesh Signs MoU for ₹15,000 Crore Shipyard
Andhra Pradesh plans to build a new shipyard at Dugarajapatnam.
The state government signed an agreement with MDL for the project.
The shipyard is expected to cost ₹15,000 crore.
It could provide jobs for about 45,000 people.
The facility is planned to build up to 1.2 million tonnes of ships each year.
Chief Minister Nara Chandrababu Naidu witnessed the agreement signing.
The State Investment Promotion Board also discussed 29 other industrial projects.
Earlier board meetings had approved hundreds of projects and attracted large investments.
Andhra Pradesh signed an MoU with MDL to establish a greenfield shipyard at Dugarajapatnam.
The proposed shipyard is valued at ₹15,000 crore and is expected to create 45,000 jobs.
The facility is planned to have an annual shipbuilding capacity of 1.2 million tonnes.
The 21st State Investment Promotion Board meeting reviewed 29 industrial projects worth about ₹22,000 crore.
Across 20 earlier SIPB meetings, 359 projects attracted ₹13.84 lakh crore in investment and were expected to create 10.59 lakh jobs.
- Who
- The Government of Andhra Pradesh and MDL signed the agreement, witnessed by Chief Minister Nara Chandrababu Naidu.
- What
- They signed an MoU to establish a greenfield shipyard with an annual capacity of 1.2 million tonnes.
- Where
- Dugarajapatnam, Andhra Pradesh.
- When
- The agreement was signed on the day of the 21st State Investment Promotion Board meeting, identified in the article as Friday.
- Why
- The project is intended to expand shipbuilding capacity and create employment; its stated investment is ₹15,000 crore.
Key facts
- Project
- Greenfield shipyard
- Location
- Dugarajapatnam, Andhra Pradesh
- Partners
- Government of Andhra Pradesh and MDL
- Investment
- ₹15,000 crore
- Planned employment
- 45,000 jobs
- Annual capacity
- 1.2 million tonnes
- SIPB projects discussed
- 29 projects worth approximately ₹22,000 crore
Sources
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