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The Cochin Shipyard’s new dry dock project is expected to increase India’s share in global ship-building to 2 per cent, said Nitin Gadkari, Union Minister for Shipping, Road Transport & Highways.
At present, India occupies 0.66 per cent share in global ship-building market, the Minister said while laying the foundation for India’s largest dry dock at Cochin Shipyard on Tuesday. Chief Minister Pinarayi Vijayan was present on the occasion.
‘Not to be privatised’
The ₹3,200-crore commercial ship-building industry in the country focusses primarily on small and medium sized offshore vessels and cargo/bulk carriers. The new dry dock will give an impetus to ‘Make in India’ initiative under Sagarmala, he said.
The Minister also categorically stated that the profit-making yard would not be privatised. The Chief Minister said that CSL’s project would pave way for the country's development along with the growth of Kerala. This achievement will be a challenge to the foreign countries. The Kerala government is also giving more importance to the inland water transportation, he said.
Timeline
The new dry dock project, which is being constructed at a cost of ₹1,799 crore, is expected to be completed by May 2021. It will be 310 metres long with a draft of 9.5 metres. It will be designed to handle both ship-building and repairs.
The Union Minister also launched two 500-capacity passenger vessels built for the Andaman and Nicobar Islands administration.
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