AP to build port-based economy with Rs 3,500 cr ship-building project: Naidu

Andhra Pradesh Chief Minister N. Chandrababu Naidu has unveiled a major initiative to develop a port-based economy with the announcement of a Rs 3,500 crore ship-building project. The ambitious project aims to position the state as a hub for shipbuilding and maritime industries, promising significant economic growth and job creation.

Speaking at a press conference on Tuesday, Naidu highlighted that the ship-building project would be strategically located along the coast of Andhra Pradesh, leveraging the state’s long coastline and port infrastructure. He emphasized that the project would not only provide an economic boost to the region but would also enhance India’s maritime capabilities.

The project is expected to create thousands of jobs, both directly in shipbuilding and indirectly in allied sectors such as logistics, steel, and manufacturing. Naidu noted that the development of this sector will also help in the expansion of the state’s export potential, especially in the shipbuilding and related industries.

The shipyard project, which is slated to be set up in the coastal region, will involve the construction of state-of-the-art facilities for shipbuilding, maintenance, and repairs. Naidu assured that the project would be equipped with the latest technology to ensure high-quality production standards, making it competitive on a global scale.

He also mentioned that the Andhra Pradesh government is working to create a conducive environment for investment in the maritime sector by improving infrastructure, streamlining regulations, and offering incentives to businesses. The project aligns with the state’s broader vision to boost industrial growth and economic diversification.

The announcement has been welcomed by industry experts who believe that this initiative will not only strengthen Andhra Pradesh’s economy but also contribute to India’s overall maritime strategy. The project is expected to attract both domestic and international investments and put Andhra Pradesh on the map as a key player in the global shipbuilding industry.

Naidu’s vision for a port-based economy aims to tap into the state’s strategic location and abundant natural resources, positioning it as an economic powerhouse in the coming years. The development of the maritime industry is seen as a key component of Andhra Pradesh’s long-term economic growth and sustainability.

As the project moves forward, the state government is expected to release further details on its implementation, including timelines and expected milestones. The ship-building project is set to play a pivotal role in shaping the future of Andhra Pradesh’s economy.