Mazagon Dock Shipbuilders to invest ₹15,000 crore

Mazagon Dock Shipbuilders to invest ₹15,000 crore in Greenfield shipyard at Dugarajapatnam

SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826 Mazagon Dock Shipbuilders Ltd (MDL) will invest around ₹15,000 crore to develop a Greenfield shipyard at Dugarajapatnam in Andhra Pradesh, with the project expected to generate around 45,000 direct and indirect jobs. The Navratna defence public sector undertaking has signed a memorandum of understanding (MoU) with National Shipbuilding and Heavy Industries Park-AP (NSHIP-AP) to develop the shipyard, which will have a design capacity of 1.2 million Gross Tonnage (GT) a year. The investment will be subject to the requisite approvals and statutory clearances. The proposed facility is expected to build a range of commercial vessels, including tankers, bulk carriers, container ships, LNG carriers and other large specialised vessels. The capacity could subsequently be expanded depending on market requirements. The MoU was signed in the presence of Chief Minister N. Chandrababu Naidu by Capt. Jagmohan (Retd.), Chairman and Managing Director, MDL, and Praveen Adhithya, Managing Director, NSHIP-AP in Amaravati on Friday. The Andhra Pradesh government is planning a broader Shipbuilding-cum-Port Cluster at Dugarajapatnam. According to the Techno-Economic Feasibility Report, the shipbuilding and ship-repair yard is estimated to cost about ₹29,254 crore, while the proposed port is estimated at ₹9,513 crore. The port is proposed to be developed by the Government of India. All this is for information This is not a buy/sell recommendation. Thank you, Technofunda24