Prime Minister Narendra Modi on Wednesday inaugurated projects worth Rs 4,000 crore in Kochi. The projects include a new dry dock and a international ship repair facility at the Cochin Shipyard (CSL) and the LPG Import Terminal of Indian Oil Corporation Limited (IOCL) at Puthuvype in Kochi, which is expected to spur job creation.

Speaking after inaugurating the projects, Prime Minister Narendra Modi said these projects are in line with the vision to transform India’s ports, shipping and inland water transport sectors by boosting capacity-building and self-sufficiency.

Along with the country’s largest dry dock, the ship building, ship repairing and LPG import terminal will catalyse the development of Kerala and other southern parts of the country, Modi said.

The Prime Minister said the new dry dock will enable big vessels to dock here for repairs, reducing dependence on foreign countries and thus saving foreign exchange.

“The International Ship Repair Facility will transform Kochi into South Asia’s largest ship-repair centre. A new ecosystem of MSMEs is envisaged, with the inauguration of such big shipbuilding and repair facilities. The new LPG import terminal will meet the LPG needs of Kochi, Coimbatore, Erode, Salem, Calicut, Madurai, and Trichy, while also supporting industries, other economic development activities and creation of new jobs in these areas,” said PM Modi.

Referring to Indian ports achieving double-digit annual growth in the last 10 years, the PM said the situation when ships had to wait for long at ports and to unload has changed, so much so that India has surpassed many developed nations when it came to their turnaround time. Likewise, timely changes to laws related to Indian seafarers led to an increase in their numbers by 140 per cent.

The Central government anticipates that with the dedication of these projects, Cochin Shipyard Limited is poised to double its turnover within the next four years to Rs 7,000 crore.

Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, Kerala Governor Arif Mohammed Khan and Chief Minister Pinarayi Vijayan were among those who attended the function.