Kerala Leases Ramanthuruth Land to Cochin Shipyard for ₹5,000 Crore Project
· Business · The Hindu, Economic Times, Moneycontrol
The Kerala government has approved leasing 18.16 acres of land at Ramanthuruth island to Cochin Shipyard Limited for a ship block building project. Chief Minister V.D. Satheesan announced the decision in Thiruvananthapuram on Tuesday, stating the shipyard has agreed to invest ₹5,000 crore in the venture. The project is expected to create approximately 2,000 direct jobs alongside additional indirect employment opportunities. The state will collect an annual lease amount of ₹1.45 crore, bringing total annual revenue to about ₹1.70 crore including GST. Chief Minister Satheesan noted that the long-pending matter was resolved through swift cabinet negotiations.
Why it matters
The massive industrial investment is expected to expand Kerala's shipbuilding capacity and generate thousands of employment opportunities in the region.
Read the original report — The Hindu
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