February 18, 2024
Prime Minister Modi Inaugurates Projects at Cochin Shipyard, Highlights India's Maritime Achievements
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Prime Minister Modi Inaugurates Projects at Cochin Shipyard, Highlights India’s Maritime Achievements

Prime Minister Modi Inaugurates Projects at Cochin Shipyard, Highlights India’s Maritime Achievements

Prime Minister Modi Inaugurates Projects at Cochin Shipyard, Highlights India’s Maritime Achievements

Prime Minister Narendra Modi dedicated projects worth Rs 4,000 crore at Cochin Shipyard Limited, emphasizing India’s success in ship-turnaround time and its standing in global trade. The projects, including strategic initiatives, are expected to accelerate the development of the southern region of the country.

During the event, PM Modi highlighted India’s outpacing of several developed nations in ship-turnaround time, showcasing the nation’s potential and position in global trade. He specifically mentioned agreements made during India’s G20 Presidency related to the Middle East-Europe Economic Corridor.

PM Modi stated that the Middle East-Europe Economic Corridor will strengthen the creation of ‘Viksit Bharat,’ boosting India’s coastal economy. He emphasized the government’s commitment to enhancing the strength of port cities like Kochi, with increased port capacity, investment in port infrastructure, and improved connectivity under the Sagarmala Project.

The Prime Minister acknowledged the significance of the new dry dock in Kochi, stating that it would enhance the capabilities of the Cochin Shipyard. He congratulated Keralites for the projects worth Rs 4,000 crore, including the new dry dock, the International Ship Repair Facility, and the LPG Import Terminal.

The central government anticipates that these projects will enable Cochin Shipyard Limited to double its turnover within the next four years to Rs 7,000 crore. PM Modi expressed confidence in creating a new ecosystem of small businesses with the extensive shipbuilding and repair facilities launched during the event.

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