Kerala Govt Clarifies Details of Proposed Shipbuilding Project.

The Kerala government has issued a clarification following media reports claiming that the Tata Group was planning to invest ₹10,000 crore in a greenfield shipbuilding project in the State.

The reports stemmed from an interview in which Kerala Chief Minister V.D. Satheesan said a large industrial proposal was under active consideration. During the interview, the Chief Minister said the Tata Group was looking to invest ₹10,000 crore in the State's shipbuilding sector and that the government was prepared to expedite the required regulatory approvals within a month.

Recently, however, the State government sought to clarify the remarks, saying the proposed investment is still at a preliminary stage and that the Chief Minister's comments should be viewed in that context.