Andhra Pradesh Advances Shipbuilding Sector with New SPV Initiative
The Andhra Pradesh Maritime Board and Visakhapatnam Port Authority have signed a Memorandum of Understanding to create a special purpose vehicle (SPV) for a National Mega Shipbuilding Cluster in Dugarajapatnam. This initiative, backed by a ₹19,989 crore budget, aims to enhance shipbuilding, repair, and maritime infrastructure in the region.