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Kochi,
April 11. The Center has decided to build another
shipbuilding hub at Kochi, worth Rs. 2,100-crore. The new
facility is being planned to lift Cochin Shipyard (CSL) to
international standards. The Union Minister for Shipping,
T.R. Baalu, told in a press conference here on Monday
after the steel cutting for India's first indigenous
Aircraft Carrier for the Indian Navy.
The creation of a green field international class shipyard
is expected to come up at Vallarpadam and possibly within
the proposed special economic zone, said Mr. Baalu. The
yard would accommodate vessels of the size of 300,000 DWT.
The CSL and the Port Trust already completed the
feasibility study of the new shipyard.
Mr. Baalu said that the shipbuilding industry across the
globe was growing at an unprecedented 29 per cent per year
and India needed to exploit this opportunity. Our
government was open to both Indian and foreign private
direct investment in the shipbuilding sector as the Union
Government looked forward to putting the maritime industry
on a new growth trajectory.
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