V.O. Chidambaranar Port Authority (VOCPA) has formed a special purpose vehicle (SPV) to set up India’s first mega shipbuilding cluster at Tuticorin (Thoothukudi) to advance India’s maritime sector. The port authority said that the SPV (National Shipbuilding & Heavy Industries Park, Tamil Nadu) has been established as a 50:50 joint venture between VOCPA and the State Industries Promotion Corporation of Tamil Nadu (SIPCOT). The cluster will feature a two km waterfront and a 2,000-acre landside area, with 1,000 acres dedicated to shipyards and another 1,000 acres for ancillary industries and facilities. The project aims to strengthen India’s commercial shipbuilding capabilities, promote industrial growth and generate large-scale employment, said a report.
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