At an estimated cost of ₹1,800 crore, the New Dry Dock at CSL is proof of India's engineering prowess. Future aircraft carriers and huge commercial vessels can be accommodated by this expansive infrastructure, which is among the largest in the region. Constructed at an approximate cost of ₹970 crore, the ISRF will help Kochi become a major ship repair hub and upgrade CSL's ship repair capabilities.
Built for around ₹1,236 crore, Indian Oil's LPG Import Terminal will guarantee a steady supply of LPG in the area, improving India's energy accessibility. Along with improving India's shipbuilding and repair capabilities, these projects will boost the country's energy infrastructure growth, lower logistical costs, and create a plethora of local and global economic prospects.
Arif Mohammed Khan, the governor of Kerala, Pinarayi Vijayan, the chief minister, and Sarbananda Sonowal, the union minister for ports, shipping, and waterways, were among the guests at the function. During the Amrit Kaal, Prime Minister Modi emphasized in his speech the significance of states in India's quest to become a "Viksit Bharat." He considered how important ports had historically been to India's economic growth and imagined how important they would be going forward as the country became more important in international trade.
The prime minister gave an overview of the government's initiatives to support port cities like Kochi, such as the Sagarmala Project's port capacity augmentation, infrastructure investments, and improved connectivity. Kerala and the surrounding area are expected to see rapid development as a result of the inclusion of shipbuilding, ship repair, and the LPG import terminal.
Together with his pleasure in the building of the 'Made in India' aircraft carrier INS Vikrant at the Kochi Shipyard, PM Modi also mentioned how the new facilities will greatly increase the shipyard's capabilities.
He cited the industry's improvements over the past ten years, which had drawn fresh funding and produced employment prospects. He mentioned the rise in inland waterway passenger and cargo travel as well as the 140% increase in Indian sailors as a result of legislative changes.
