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Andhra Pradesh is working to attract a global anchor investor for the proposed ₹29,000-crore mega shipbuilding cluster at Dugarajapatnam, as the State steps up efforts to establish itself as a major maritime manufacturing hub.
Leveraging its 1,053-km-long coastline, the State government is focusing on expanding the maritime economy and strengthening its position against other coastal States in attracting leading international shipbuilding companies. Global shipbuilding giants such as HD Hyundai, Samsung, and Imabari Shipbuilding are among the major players being closely considered, with an announcement on the anchor investor expected soon.
To implement the project, a special purpose vehicle (SPV) has already been established jointly by the Andhra Pradesh government and the Visakhapatnam Port Authority, representing the Centre. The proposed shipbuilding cluster is planned with a capacity of 1.2 million tonnes, with the total investment estimated at ₹29,253 crore.
News by Rahul Yelligetti.
