Bhubaneswar, Sept. 20 -- The Paradip Port Authority (PPA) and the Odisha Maritime Board (OMB) have signed a Memorandum of Understanding (MoU) to establish a large-scale shipbuilding cluster in Odisha.
The partnership, formalised on September 19, 2025, is in line with India's Maritime Amrit Kaal Vision 2047, which aims to position the country among the world's top five shipbuilding nations.
The proposed cluster will be developed on the Mahanadi riverbank in Kendrapara district, opposite the IFFCO Plant in Paradip, at an estimated investment of Rs 24,700 crore.
It is envisioned as a fully integrated ecosystem with one or more large shipyards, having a combined capacity of 1.0-1.2 million Gross Tonnage (GT) annually.
Key features of the cl...