Cochin Shipyard, Swan Defence and Heavy Industries (SDHI), and L&T Shipbuilding have submitted an Expression of Interest for a USD 1 billion VLGC shipbuilding deal, a key move aligned with India’s Maritime Amrit Kaal Vision 2047 to strengthen domestic shipbuilding.
The VLGC shipbuilding deal focuses on building eight Very Large Gas Carriers used for transporting LPG across global markets. The project is led by Shipping Corporation of India along with a proposed joint venture supported by major oil companies.
As part of the plan, two vessels will be constructed at an international shipyard, while six will be built in India with global technology partnerships. This approach is aimed at developing local expertise while ensuring global standards.
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Each of the Indian bidders has tied up with leading foreign shipbuilders to bridge technology gaps. This is significant since India has not built VLGCs before, making the VLGC shipbuilding deal a major step toward achieving the goals set under Maritime Amrit Kaal Vision 2047, which targets making India a global maritime hub.
The initiative supports India’s strategy to reduce reliance on foreign-built ships and expand its capabilities in complex vessel construction. It also fits into a larger plan to scale up the country’s fleet and strengthen energy logistics.
The joint venture is expected to invest heavily in ship acquisition over the next five years, covering various vessel categories including tankers and offshore ships, further reinforcing long-term maritime growth.
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