Andhra Pradesh Plans Global Partnership for ₹29,000-Crore Mega Shipbuilding Project.

Andhra Pradesh is in the process of bringing in a global major as an anchor investor for the proposed ₹29,000-crore mega shipbuilding cluster at Dugarajapatnam in Tirupati district, as the State intensifies efforts to emerge as a key maritime manufacturing hub.

With a coastline stretching over 1,053 km, the State government is placing significant emphasis on expanding the maritime economy and competing with other coastal States to attract leading global shipbuilding companies. Industry giants such as HD Hyundai, Samsung and Imabari Shipbuilding are among the prominent players in the global shipbuilding sector being closely watched. An announcement regarding the anchor investor is expected soon.

To execute the project, a special purpose vehicle (SPV) has already been formed jointly by the Andhra Pradesh government and the Visakhapatnam Port Authority, representing the Centre. The proposed mega shipbuilding cluster is planned with a capacity of 1.2 million tonnes, with the overall investment estimated at ₹29,253 crore.