Adani to build ships at Mundra port in Gujarat, will likely focus on green vessels for long-term, says report

Adani to build ships at Mundra port in Gujarat, will likely focus on green vessels for long-term, says report /Ani

MINT | July 9, 2024 | 03:19 PM IST | Breaking News, India | Follow on Google News

Adani to build ships at Mundra port in Gujarat, will likely focus on green vessels for long-term, says report

Adani to build ships at Mundra port in Gujarat, will likely focus on green vessels for long-term, says report

The Adani Group is considering building ships at its flagship Mundra port in the Kutch, Gujarat, The Economic Times reported. This comes as other major ship building ports in China, Japan and South Korea are “booked out” till 2028 leaving a gap in demand for new vessels, it added.

Notably, India is at present #20 in the global commercial ship building market (0.05 per cent share) and aims to be in the top 10 by 2030 and top 5 by 2047, per the ‘Maritime Amrit Kaal Vision 2047’ released by PM Narendra Modi in January this year.

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Potential Growth Market

India’s potential for the market is pegged at around $62 billion net by 2047, as per a KPMG document on the industry, submitted to the Ministry of Ports, Shipping and Waterways earlier this month, it added. Further, the potential jobs creation is pegged at 12 million, as per the same document.

MINT