The Jawaharlal Nehru Port Authority is collaborating with the state Maritime Board to establish a quarry spanning 100 hectares for the Vadhavan port project in Maharashtra. A government resolution permits a geo-technical survey in dense forest areas, but environmental activists warn of potential ecological damage and threats to local tribal communities.
Econavis Solutions, a maritime technology firm in Glasgow, has secured a £300,000 investment from the Innovate UK Icure Exploit program to drive growth. This funding will commercialize research from the University of Strathclyde and support the launch of its ECO Boss Cap Propeller Hub, enhancing hydrodynamic efficiency in the industry.
Maharashtra plans to enhance its maritime economy by developing six major shipyard clusters along its coast, targeting investments over Rs. 6,600 crore and creating 40,000 jobs by 2030. Spearheaded by the Maharashtra Maritime Board, this initiative includes site identification for clusters like Nandgaon and Dighi, with adherence to global best practices.
The Indian government plans to boost the Maritime Development Fund to 70,000 billion rupees, enhancing long-term financing for the maritime sector. By 2047, the sector’s value is expected to reach $940 billion, driven by advancements in shipping and shipbuilding. New incentives and subsidies aim to position India among the top shipbuilding nations.
The Visakhapatnam Port Authority (VPA) has achieved a major milestone by handling 55 million metric tonnes of cargo in just 249 days, surpassing previous records. With collaboration from various stakeholders, VPA is on track to meet its annual target of 90 MMT for the fiscal year 2024-25.
