Maharashtra Govt Plans ₹4,150 Crore Maritime Complex In Palghar To Boost Shipbuilding And Blue Economy

Mumbai, May 22: Fisheries and Ports Minister Nitesh Rane on Friday said Maharashtra is moving towards becoming a major global shipbuilding and maritime industrial hub with the proposed development of a state-of-the-art maritime complex in Palghar district.

The proposed ‘United Sadhav Integrated Maritime Complex’ at Nandgaon in the Vadhvan region is expected to attract an investment of nearly Rs 4,150 crore and significantly strengthen the state’s blue economy.

Meeting held on shipyard development

Rane was speaking at a meeting held to discuss the development of shipyards at Nandgaon and Dighi. Maharashtra Maritime Board Chief Executive Officer Pradeep P, United Sadhav Integrated Maritime Private Limited representative Vedant Chaudhary and senior officials were present during the meeting.

According to the proposal submitted before the Maharashtra Maritime Board, the project will come up over nearly 600 acres near the upcoming Vadhvan deep-water port.

The integrated maritime complex will include modern shipbuilding and ship repair facilities, dry docks, offshore marine services and a green ship recycling centre.

The project is expected to bring advanced maritime infrastructure to the state and create large-scale employment opportunities in coastal regions.

Project to attract major investment

The proposal involves an estimated investment of about 500 million US dollars, with the first phase of work expected to begin within two years. The company has sought support from the state government, including land on a renewable 30-year lease, mega project status, single-window approvals, capital subsidy assistance and support for skill development initiatives.

Rane directed officials of the Maharashtra Maritime Board and the company to jointly inspect the Nandgaon site and submit a detailed report at the earliest.

Also Watch:

He said the state government would prioritise projects that promote investment, employment generation, green technology and local development. The minister reiterated that Maharashtra is committed to emerging as the country’s leading state in the blue economy sector.

To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/