AP Seeks Korean Tech Push For Shipbuilding Sector

Our aim is to foster sustainable development by building world-class infrastructure, attracting global and domestic investments and positioning Andhra Pradesh as a premier industrial hub. Establishing AP as a leading maritime state in India by 2030 is our focus area

Vijayawada: Andhra Pradesh has created a land bank of 5,000 acres near the upcoming Greenfield ports to give a fillip to port-led development, Andhra Pradesh Infrastructure and Investment (APIIC) Secretary S Suresh Kumar said on Tuesday.

Andhra Pradesh aims to become a world-class maritime State by the year 2030 and drive a sustainable economic growth and coastal development by building state-of-the-art infrastructure and attracting global and domestic investments in the sector, Suresh Kumar stated.

He mentioned this during a presentation on the State’s vision at the 29th Economic Development Cooperation Fund conference, organised by Export-Import Bank of Korea (KEXIM) in Seoul.

Suresh Kumar, who is on a five-day official tour of South Korea on the invitation of KEXIM, is meeting the top brass of the Korean shipbuilding industry and exploring partnership for setting up shipbuilding and ship repair facilities in AP.

Suresh Kumar is also meeting officials of the Busan Port Authority, Hanjin Industries and Hyundai Industries showcasing the State’s potential and advantage for prospective investment in the maritime sector.

“Our aim is to foster sustainable development by building world-class infrastructure, attracting global and domestic investments and positioning Andhra Pradesh as a premier industrial hub. Establishing AP as a leading maritime state in India by 2030 is our focus area,” Suresh Kumar said.

The State, he noted, has been adopting innovative policies to achieve its objectives. “Efficient governance is also the key in this regard,” he added.

The lone major port (Visakhapatnam) and five non-major ports in the State together handled cargo of 198 million tonnes (MT) in 2023.

With four more non-major ports at Ramayapatnam, Machilipatnam, Kakinada (Gateway) and Mulapet set to become operational soon with a total investment of over Rs16,000 crore, the State’s port cargo handling capacity would increase by 110 million tonnes by 2025-26, the Infrastructure and Investment Secretary pointed out.

Now, the State government is looking at giving a major push to port-led industrial development, including shipbuilding, repair and recycling, that would create jobs by the thousands.

“Proximal Area Development near ports, shipyard development and allied maritime activities are our focus areas along with port development. We have a 5000-acre land bank near the upcoming greenfield ports to enable setting up of industries. We are open to private sector partnerships for development of ports and also fishing harbours,” Suresh Kumar said.

An official release stated that Andhra Pradesh Government is exploring partnerships with international players to give a major thrust to port-led infrastructure development that could create large-scale employment and propel the State towards its goal of becoming a 2 trillion-dollar economy by the year 2047.