CSL to Build Shipyard in Tamil Nadu, Invest Rs 15,000 Cr

New Delhi, Sep 23 (PTI) Cochin Shipyard Ltd (CSL) is considering an investment of about Rs 15,000 crore to establish a shipyard in Tamil Nadu in collaboration with a Korean partner, an official statement said on Tuesday.

In the first phase, the greenfield project is expected to create nearly 10,000 jobs, comprising 4,000 direct and 6,000 indirect opportunities and may also include a modern ship repair facility, the statement said.

CSL signed a memorandum of understanding (MoU) with Guidance, the nodal agency of the Government of Tamil Nadu, in line with the Government of India's vision for developing shipbuilding clusters.

CSL has also signed an MoU with HD Korea Shipbuilding & Offshore Engineering (HD KSOE) for a long-term strategic collaboration in shipbuilding.

The partnership seeks to combine CSL's legacy, infrastructure, and domestic expertise with HD KSOE's advanced technology and global experience, marking a significant step in strengthening India's shipbuilding capabilities, the statement said.

Under the MoU, CSL's 310-meter new dry dock, which was inaugurated by Prime Minister of India on January 17, 2024, will be utilised to construct large vessels such as Suezmax tankers, container ships, and Capesize bulk carriers, with a capacity of up to six vessels annually, it said.

To support this, the statement said, a dedicated Block Fabrication Facility (BFF) is planned at Kochi in approximately 80 acres, with an annual capacity of 1,20,000 MT, involving an investment of about Rs 3,700 crore.

This initiative is expected to generate around 2,000 direct jobs and substantial indirect employment estimated at 2 to 5 times higher in sectors such as logistics, MSMEs, supply chain, and ancillary industries, it said.