Andhra Pradesh seeks global investor for ₹29,000 crore shipbuilding project
after close1 source ↓written by the desknot a recommendation
- mega shipbuilding cluster
- ₹29,000 crore
- a capacity
- 1.2 million tonnes
- in land
- ₹5,289 crore
The Andhra Pradesh government aims to secure a global major as an anchor investor for a ₹29,000 crore mega shipbuilding cluster in Dugarajapatnam. This initiative, with a capacity of 1.2 million tonnes, is part of the state's strategy to enhance its maritime economy and attract significant foreign investment.
The government will invest ₹5,289 crore in land and marine infrastructure, while the anchor investor will focus on developing the core shipbuilding operations. An announcement regarding the investor is expected soon, potentially boosting local economic activity and job creation.
Not investment advice. For informational purposes only.