Mazagon Dock joins race to anchor Andhra’s ₹29,000 crore mega shipbuilding cluster

DUGARAJAPATNAM : State-owned Mazagon Dock Shipbuilders is likely to be the anchor investor in the proposed mega shipbuilding facility at Dugarajapatnam in Tirupati district of Andhra Pradesh,

According to a senior government official, representatives of the Mumbai-based company are expected to visit Dugarajapatnam shortly to assess the site and evaluate the feasibility of joining the project as an anchor investor.

A special purpose vehicle (SPV) has already been formed by the State government and Visakhapatnam Port Authority (VPA) representing the Centre for the mega shipbuilding cluster with a capacity of 1.2 million tonnes. The total investment has been pegged at ₹29,253 crore. While the government will take care of land and marine infrastructure development worth ₹5,289 crore. The anchor investor will develop the core shipbuilding cluster with an investment of ₹23,964 crore.