State to lease 18.16 acres at Ramanthuruth to Cochin Shipyard

AI Summary

The Indian state government plans to lease 18.16 acres at Ramanthuruth to Cochin Shipyard, which will invest ₹5,000 crore in a ship block building project. The initiative aims to boost the shipbuilding sector and create indirect employment in the region.

Cochin Shipyard has agreed to invest ₹5,000 crore in the ship block building project, says Chief Minister V.D. Satheesan; project expected to boost the State’s shipbuilding sector and generate additional indirect employment