Andhra Pradesh Seeks Korean Investment for ₹30,000 Crore Dugarajapatnam Shipbuilding Hub

Andhra Pradesh intensified its investment outreach in South Korea recently, with State Minister for Education, IT and Electronics Nara Lokesh inviting Korean maritime manufacturers to invest in the proposed ₹30,000 crore Dugarajapatnam Shipbuilding Cluster, as the state seeks to position itself as a major maritime manufacturing hub.

Addressing a maritime investment roundtable organised by the Korea Marine Equipment Association (KOMEA) in Busan, Lokesh highlighted Andhra Pradesh's 1,053-km coastline, expanding port infrastructure and growing industrial ecosystem as key advantages for global investors.

He invited Korean marine equipment manufacturers to participate in the Dugarajapatnam Shipbuilding Cluster, which is being jointly developed by the Andhra Pradesh Maritime Board (APMB) and the Visakhapatnam Port Authority, describing the project as a significant opportunity to build a globally competitive shipbuilding and marine equipment ecosystem in the state.