The Mumbai Port Authority and the Government of Maharashtra have agreed to form a 50:50 special purpose vehicle (SPV) to develop a greenfield shipbuilding cluster, marking a significant push to strengthen India’s maritime manufacturing ecosystem.
The proposed SPV will spearhead the planning, development and execution of the integrated shipbuilding cluster, which is expected to include shipyards, repair facilities, ancillary units, testing infrastructure and common utilities. The project aims to position Maharashtra as a key hub for shipbuilding, ship repair and allied marine industries.
According to officials, the cluster will be developed with a focus on modern shipbuilding technologies, green practices and export-oriented manufacturing, in line with the Centre’s broader maritime and industrial policy objectives. The initiative is also expected to support defence shipbuilding, coastal and inland vessels, and offshore assets.
The Mumbai Port Authority is expected to contribute land and port-linked infrastructure, while the state government will facilitate policy support, approvals, and external connectivity, including road and rail links. The equal equity structure is aimed at ensuring joint decision-making and faster execution.
Once operational, the shipbuilding cluster is projected to attract significant private investment, create a robust vendor ecosystem, and generate large-scale skilled employment across engineering, fabrication and marine services.
The project is seen as a strategic move to reduce India’s dependence on overseas shipyards, enhance domestic capacity, and support the country’s ambitions to become a global maritime manufacturing hub.