TN Govt signs two Ultra Mega MoUs with Cochin Shipyard and Mazagon Dock for ₹30,000 crore investment with 55,000 jobs

CHENNAI : The Tamil Nadu Government has announced the signing of two Memorandums of Understanding (MoUs) in the shipbuilding sector with state-run Cochin Shipyard and Mazagon Dock Shipbuilders to establish two greenfield commercial shipyards in the state.

The projects will see a combined investment of ₹30,000 crore and generate employment for 55,000 people.

Cochin Shipyard Limited will invest ₹15,000 crore to build a Green commercial shipbuilding yard. The project is expected to generate over 10,000 jobs (4,000 direct and 6,000 indirect).

Mazagon Dock will match the investment, setting up a second facility that is projected to employ over 45,000 people (5,000 direct and 40,000 indirect), mostly in the surrounding ecosystem.

“These projects signal Tamil Nadu’s rise as India’s maritime manufacturing powerhouse,” Rajaa said in a post on social media.

Earlier this month, the state industrial promotion agency SIPCOT and V.O. Chidambaranar Port signed a memorandum of understanding to form a special purpose vehicle to promote shipbuilding, providing the institutional framework for the new policy.

The two shipyards are expected to bring cutting-edge shipbuilding technology, strengthen coastal infrastructure and attract ancillary industries ranging from marine equipment manufacturers to logistics providers, the minister said.