CM Majhi announces Rs 46,000 crore investment plans for new port, shipbuilding project in Odisha

Odisha Chief Minister Mohan Charan Majhi announced significant development plans. A new port will be established at Bahuda in Ganjam district. A shipbuilding and repair centre is planned near Paradip. A world-class cruise terminal will be built in Puri. These projects represent a substantial investment of over Rs 46,000 crore.

Adani Ports is aggressively expanding its logistics and warehousing services, forecasting a five-fold revenue increase by fiscal year 2029. This diversification aims to mitigate risks from global economic uncertainty and reduce reliance on traditional cargo handling. The company’s logistics segment already shows strong growth, contributing significantly to its overall revenue.

Allcargo Logistics has completed a significant restructuring. Its international supply chain business has been demerged into a new entity, Allcargo Global Limited. Simultaneously, the domestic express distribution and consultative logistics businesses have been merged into the existing Allcargo Logistics Limited. This move aims to enhance synergy and value creation. Shareholders will receive shares in both […]

The growth of India’s maritime industry is hindered by a lack of robust financing avenues. Shipowners are encountering challenges with banks hesitating to fund vessel acquisitions. Meanwhile, port developers are in dire need of funding options that span 30 to 50 years to ensure project viability.

Cochin Shipyard Limited and Denmark-based Svitzer have signed a significant agreement. They will build a new generation of electric TRAnsverse tugboats in India. This collaboration brings advanced and environmentally friendly tug designs to the Indian market. The deal was finalized during India Maritime Week in Mumbai.

Neptunus Power Plant Services has partnered with the Indian Register of Shipping to develop indigenous marine engine monitoring technology under ‘Make in India’. This collaboration aims to bring data-driven maintenance to India’s shipping industry, with IRS granting Type Approval to Neptunus’ VIB 360 and Torque Sense SHAPOLI systems.

V.O. Chidambaranar Port Authority has signed 28 agreements for green energy projects. These pacts represent an investment exceeding Rs 1.27 lakh crore. Major MoUs include a common storage farm for green ammonia and a green ammonia production facility. These initiatives aim to establish the port as a future green hydrogen hub for southern India.

In a significant move towards enhancing India’s maritime capabilities, state-owned BEML is joining forces with the Dredging Corporation of India. Together, they will innovate and create advanced dredgers, with a deal valued at around Rs 350 crore that includes a commitment to supply essential spare parts.

Cochin Shipyard is set to invest ₹6,000 crore over the next five to six years. Funding will come from government schemes, multilateral loans, blue bonds, and internal accruals. This investment will support shipbuilding, ship repair, and other ventures. New contracts and a strong order pipeline are driving this expansion. The company is also exploring a […]

India’s maritime sector holds the key to becoming a developed nation by 2047. Labour and Employment Minister Mansukh Mandaviya highlighted its potential for job creation and trade growth. He noted that 95 percent of India’s trade by volume moves by sea. The government is actively building an ecosystem for shipbuilding to revive India’s historical maritime […]