The Kerala government has approved the lease of 18.16 acres at Ramanthuruth, near Kochi, to Cochin Shipyard Limited (CSL) for a new ship-block building facility. The project is expected to involve an investment of around Rs 50 billion and create approximately 2,000 direct jobs, alongside additional indirect employment.
The state will receive an annual lease payment of Rs 14.5 million, rising to about Rs 17 million including goods and services tax. The facility will support ship construction by fabricating large ship blocks, helping CSL expand production capacity and accelerate vessel-building timelines.