The government of Tamil Nadu has inked two major memoranda of understanding (MoUs) worth a combined Rs 300 billion to develop shipyards in the Thoothukudi district, Tamil Nadu.
The first MoU is with Cochin Shipyard, committing Rs 150 billion, projects to create 10,000 jobs. The second MoU is with Mazagon Dock Shipbuilders of Mumbai, valued at Rs 150 billion, anticipated to create 45,000 jobs.
These announcements follow earlier efforts to boost the maritime sector. Among these is a shipbuilding components project by Chennai Radha Engineering Works (CREW), amounting to Rs 15 billion with over 1,400 jobs already committed.
To support this growing sector, Tamil Nadu is setting up a state public sector undertaking for shipbuilding. Thoothukudi is also being developed as a hub for green hydrogen, with several global firms planning operations at VO Chidambaranar Port, involving investments exceeding Rs 41.86 billion in the first phase.