MoU Signed for India's First Mega Greenfield Shipyard at Thoothukudi
The Ministry of Ports, Shipping and Waterways of India has announced the signing of a tripartite Memorandum of Understanding (MoU) for the development of India's first Mega Greenfield Shipyard at Thoothukudi, Tamil Nadu. The agreement involves HD Korea Shipbuilding & Offshore Engineering Co., Ltd., National Shipbuilding & Heavy Industries Park, Tamil Nadu Limited, and Sagarmala Finance Corporation Limited. This initiative, part of the India-ROK Comprehensive Framework for Partnership in Shipbuilding, is expected to substantially enhance India's shipbuilding capacity, creating around 15,000 direct jobs and catalyzing the development of a comprehensive maritime industrial ecosystem. The shipyard project aligns with India’s Maritime Amrit Kaal Vision 2047 to position the country among the top five global shipbuilding nations.
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