Andhra to develop port-based economy with Rs 3,500 cr ship-building project: CM Naidu

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....ndhra to develop port-based economy with Rs 3,500 cr ship-building project: CM Naidu<BR>PTI News<BR>Dated:- 14-5-2025<BR>PTI<BR>Amaravati, May 14, 2025 (PTI) Andhra Pradesh Chief Minister N Chandrababu Naidu has announced a strategic plan to develop a port-based economy harnessing the state's 1,000 kilometre-long coastline, establishing ports or fishing harbours at every 50 km interval. The chie....

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....f minister outlined that the plan is expected to spur economic growth in the state and generate employment and create infrastructure. "We have unveiled a strategic plan to build a port-based economy by harnessing Andhra Pradesh’s 1,000-kilometre coastline," said Naidu in a press release issued on Tuesday. As part of the central government’s bifurcation-era commitment, a major initiative wa....

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....s discussed to establish a Ship Building and Repair Cluster at Dugarajapatnam in Nellore district. The project, based on an initial feasibility report, is proposed to be developed over 2,000 acres through collaboration between the central and state governments. Of the 2,000 acres, 1,000 acres will be allocated for core ship-building units and another 1,000 acres for ancillary industries. The p....

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....lan includes setting up a greenfield port integrated with a ship-building and repair hub featuring four dry docks, outfitting jetties, and a ship-lift facility. The estimated central investment of the project is Rs 3,500 crore, with the Government of Andhra Pradesh contributing land as equity. The chief minister said that a Special Purpose Vehicle (SPV) will attract global ship-building player....

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....s and the project will bring Rs 26,000 crore investments creating 5,000 direct jobs, and 30,000 indirect jobs. The chief minister instructed officials to prepare a detailed action plan to expedite the project. He also emphasised improving cargo movement via Visakhapatnam Port, crucial to the state’s growth. PTI MS STH ADB<BR> News - Press release - PIB....