Andhra Pradesh poised to become global maritime and logistics hub
Union Minister Sarbananda Sonowal highlighted the state's strategic coastline and shipbuilding opportunities at a summit in Visakhapatnam.
Andhra Pradesh is set to emerge as a globally competitive maritime and logistics hub through investments in port infrastructure, shipbuilding, and ship repair, according to ThePrint. Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal made these remarks on Thursday at the 31st CII Partnership Summit in Visakhapatnam.
Sonowal noted that the state's 1,053-kilometre coastline along the Bay of Bengal and proximity to Asian manufacturing economies position it to be India’s principal maritime gateway to ASEAN, East Asia, and the Indo-Pacific. He compared the potential to the growth of Hyderabad, stating, “If Hyderabad became Cyberabad, Andhra Pradesh today has the opportunity to become India’s Maritime Gateway to the East.”
The minister highlighted that foundation stones were laid on Wednesday for projects worth more than Rs 560 crore at Visakhapatnam Port to increase capacity and employment. He also identified a proposed greenfield shipbuilding cluster at Dugarajapatnam as a major opportunity.
This Dugarajapatnam project has received in-principle approval under the National Shipbuilding Mission and involves an investment of approximately Rs 30,000 crore. A Centre-State special purpose vehicle involving the Andhra Pradesh Maritime Board and Visakhapatnam Port Authority has been formed for the initiative, which targets an annual capacity of 1.2 million gross tonnes.
Sonowal also mentioned the Rs 10,000-crore Container Manufacturing Scheme and a proposed Rs 10,000-crore Coastal Cargo Promotion Scheme. He invited global investors and technology companies to explore the state as a preferred destination for maritime investment.