India, April 30 -- The state government on Tuesday approved a policy for ship building and constructing a ship breaking yard in the state, which will be called 'Shipbuilding, Ship Repair and Ship Recycling Policy 2025'.

The state's sole ship breaking yard at Darukhana, in Mumbai, was closed between 2015-16, as it was contributing to pollution.

Speaking at a press conference in Mantralaya, ports minister Nitesh Rane said, "The policy aims to transform Maharashtra into a major hub for shipbuilding and ancillary industries."

To spearhead the policy, prime Minister Narendra Modi has sanctioned Rs.25,000 crore as maritime development fund. Chief minister Devendra Fadnavis said, "Each ship building yard can employ 50,000 to 60,000 persons an...