Modi dedicates 3 major projects at Cochin Shipyard to nation

Prime Minister Narendra Modi today inaugurated three major projects at the Cochin Shipyard Ltd, involving total investment of Rs4,000 crore. The projects include a 310-meter-long dry dock as well as the International Ship Repair Facility (ISRF) along with the IOCL’s LPG import terminal at Puthuvypeen, Kochi.

The new dry dock, built at a cost of about Rs1,800 crore at the existing premises of Cochin Shipyard Limited, is a flagship project. This one-of-a-kind 310-meter-long stepped dry dock, with a width of 75/60 meters, depth of 13 meters and a draught of up to 9.5 metres, is one of the largest marine infrastructures in the region. The new dry dock project features heavy ground loading which will position India with advanced capabilities to handle strategic assets like future aircraft carriers of up to 70,000 tonnes displacement as well as large commercial vessels, thus eliminating India's dependency on foreign nations for emergency national requirements.

Built at par with international standards, the International Ship Repair Facility (ISRF) is India’s first fully developed pure ship repair ecosystem. Built at a cost of about Rs970 crore, ISRF has a ship lift system with a capacity of 6,000 tonnes, a transfer system, six workstations and a berth of approximately 1,400 metres which can accommodate 7 vessels of 130-metre length simultaneously. The ISRF will modernise and expand the existing ship repair capabilities of CSL and will be a step towards transforming Kochi into a global ship repair hub.

Indian Oil’s LPG Import Terminal at Puthuvypeen, Kochi, built at the cost of about Rs1,236 crore, boasts state-of-the-art facilities. With a 15,400 tonne storage capacity, the terminal will ensure a steady supply of LPG for millions of households and businesses in the region. The new LPG import terminal will meet the LPG needs of Kochi, Coimbatore, Erode, Salem, Calicut, Madurai, and Trichy while also supporting industries, other economic development activities and creation of new jobs in these areas, prime minister said.

All these projects are of immense strategic importance and will be game-changers for India’s marine sector, minister of shipping and ports Sarbanad Sonowal said at the inauguration ceremony.

Sonowal said the Narendra Modi government is making  concerted efforts to increase the number of Indian flagged vessels and reduce dependence on foreign vessels to least possible. Towards this, he said, “The government is providing requisite impetus to the shipping sector, including an ambitious Green Tug Transition Programme (GTTP), which is likely to steamroll India’s shipping sector prospects to become global leader in the production of Green Ships. We are also working on building Ship Repair Cluster in Kochi to provide a robust ecosystem for India’s shipping industry.”

These key projects will enable CSL to double its turnover within the next four years to Rs7,000 crore. These initiatives will not just support the vision of an Atmanirbhar Bharat but also serve as effective catalysts for the progress, advancement, and job creation for the people, he said.

Addressing the gathering, Prime Minister Modi recalled the role of ports in India’s erstwhile prosperity in earlier times and envisaged a similar role for ports now when India is taking new strides and becoming a major center of global trade. 

He informed that the reforms of rules related to Indian Seafarers have led to an increase in the number of seafarers in the country by 140 per cent. Within the country, the prime minister said that passenger and cargo transport got a major boost by making use of inland waterways.

The prime minister pointed out that Indian ports have achieved double-digit annual growth in the last 10 years. Till 10 years ago, he said, ships had to wait for long at the ports and the unloading took very long. “Today, the situation has changed”, Modi said, adding that India has surpassed many developed nations when it comes to ship-turnaround time.

Modi underlined the importance of the agreements for setting up a Middle East-Europe Economic Corridor signed during India’s G20 presidency, which, he said, will further strengthen the creation of Viksit Bharat by giving a boost to the coastal economy of India.

PM Modi said the new dry dock will not only enable big vessels to dock but also make shipbuilding and ship repair work possible here, reducing dependence on foreign countries and will also save foreign exchange. 

With the commissioning of these 3 projects, the nation’s shipbuilding and repair capacities and the growth of energy infrastructure including ancillary industries will get a boost. The projects will also boost EXIM Trade, reduce logistics costs, drive economic growth, build self-reliance and create numerous domestic and international business opportunities, he added.