Cochin Shipyard aims to double its turnover to Rs 7,000 cr by 2028: Union Minister Sonowal
Jan 16, 2024
Kochi (Kerala) [India], January 16 : Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal reviewed the preparation of the key strategic projects at Cochin Shipyard Limited (CSL) in Kochi on Tuesday.
Prime Minister Narendra Modi will inaugurate these important projects and dedicate them to the country tomorrow.
According to the Ministry of Ports, Shipping and Waterways, Union Minister Sonowal reviewed the 310-meter-long drydock, built to international standards, as well as the International Ship Repair Facility (ISRF), India's first fully developed pure ship repair ecosystem, along with the IOCL's LPG import terminal today.
"All these projects of immense strategic importance will be inaugurated by Prime Minister Narendra Modi in Kochi tomorrow. Sonowal also reviewed other major projects and took stock of their progress," the Shipping Ministry said. 
Sonowal further stated that Cochin Shipyard Limited is poised to double its turnover within the next four years to Rs 7,000 crore.
"These initiatives will not just support Prime Minister Modi's vision for an Atmanirbhar Bharat but also serve as effective catalysts for progress, advancement, and job creation for the people of the nation. This truly embodies the essence of 'Sab Ka Saath, Sab Ka Vikas.' As expressions of national pride, these projects stand as proof of India's prowess in engineering and project management," he said.
On the occasion, Sonowal said, "Under the visionary leadership of Prime Minister Narendra Modi, India is cruising ahead towards becoming Atmanirbhar. Shipping is no different, as we are making a concerted effort to increase Indian-flagged vessels and do away with our dependence on foreign vessels to the least possible level."
"In doing so, we are providing requisite impetus to the shipping sector, including an ambitious Green Tug Transition Programme (GTTP), which is likely to steamroll India's shipping sector prospects to become a global leader in the production of green ships. We are also working on building a ship repair cluster in Kochi to provide a robust ecosystem for India's shipping industry," he added.
Expressing his satisfaction at the progress of the projects at the press conference ahead of the Prime Minister's Inauguration of Rs 4,000 crore worth of projects, Sonowal said, "CSL is playing a crucial role in India's attempt to become a global player of repute in the maritime sector."
