VOC Port Authority Plans Shipbuilding Facility in Thoothukudi

The VOC Port Authority is considering the development of a shipbuilding facility in Thoothukudi, with discussions underway with a Korean conglomerate. VOC port chairman Susanta Kumar Purohit and senior port officers recently met with HD-Korea Shipbuilding and Offshore Engineering to explore this possibility. The Ministry of Port, Shipping, and Waterways, along with Invest India, facilitated the meeting. The Union shipping ministry is exploring various options for establishing the facility as part of India’s plan to expand its fleet size to 2,500 ships by adding 1,000 vessels over the next decade to reduce reliance on foreign shipping companies.

Several states, including Tamil Nadu, have expressed interest in hosting the proposed shipbuilding infrastructure. The Korean company is currently evaluating potential land locations, and a techno-feasibility study will be conducted before finalizing the facility setup. Additionally, VOC port is positioning itself as India’s green hydrogen hub, with plans to establish a pilot plant with a daily capacity of 10 tonnes to build expertise in generating, storing, transporting, and using green hydrogen. The pilot green hydrogen plant at VOC port is expected to be operational within the next three months.

To support the maritime industry’s long-term financing needs, a Maritime Development Fund with a corpus of Rs 25,000 crore will be established, with 49% government contribution and the remainder raised from ports and the private sector. This fund aims to support the industry’s growth and development initiatives. Overall, these developments demonstrate the VOC Port Authority’s commitment to fostering growth in the maritime sector and positioning itself as a key player in India’s shipping and logistics landscape.

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