Andhra Pradesh is set to get a major boost to its maritime sector as Mazagon Dock Shipbuilders Limited (MDL) signed an agreement with National Shipbuilding and Heavy Industries Park-AP (NSHIP-AP) to develop a greenfield shipyard at Dugarajapatnam.
The agreement was signed on Friday in the presence of Chief Minister N. Chandrababu Naidu. MDL plans to invest around ₹15,000 crore in the project over the next five to seven years, subject to the required approvals and clearances. The project could create around 45,000 direct and indirect jobs.
The proposed shipyard will have a design capacity of 1.2 million gross tonnes every year. It will build commercial vessels such as tankers, bulk carriers, container ships, LNG carriers and other large vessels.
The project forms part of Andhra Pradesh’s plan to develop a wider shipbuilding and port cluster at Dugarajapatnam. The state government expects the project to attract supporting industries in marine engineering, manufacturing and logistics.
NSHIP-AP, a joint venture between the Andhra Pradesh Maritime Board and Visakhapatnam Port Authority, has selected MDL as the anchor shipyard.
