CM Satheesan 'Tata to Invest 1 Billion in Shipbuilding in Kerala'

The Tata Group has sought approval to invest 100 billion rupees ($1 billion) in shipbuilding in Kerala, according to the chief minister of the southern Indian state. 

“Tata is ready to invest on shipbuilding,” V.D. Satheesan said in an interview at Thiruvananthapuram. “We are going to provide the land” to the Indian conglomerate. The state government is favorably considering the proposal and it is likely to approve it within a month, he



added.

The investment will add a new line of business for the $180-billion conglomerate that already makes coffee to luxury cars and steel products to smartphones. 

Adani Group already has its new mega port — a deepwater transshipment hub near India’s southernmost tip — at Vizhinjam, which has secured a $1.4 billion commitment from MSC Mediterranean Shipping Co. The MSC investment is currently being reviewed by the Satheesan administration.