MALAPPURAM: The shipbuilding centre at Ponnani Port is set to become operational by next month, marking a significant milestone in the port’s development. Hyderabad-based Travancore Precision Components has signed an agreement with the Kerala government to establish the facility on 29 acres within the port. Shipbuilding operations will be carried out by its subsidiary, Blue Gen Marine.
Meanwhile, the company has secured its first major international order even before the yard starts operation. Its representatives said the firm has received a Rs 200 crore contract from a Singapore-based firm to build two electric tugboats.
The vessels will be powered by 4,200 kWh battery systems. This apart, the yard will manufacture offshore support vessels and advanced fishing boats designed for coastal and marine operations.
During the first phase, the facility will be able to build vessels up to 50m in length. The yard’s capacity will be expanded in the second phase to construct ships measuring up to 120m.
Preparatory work for the public-private partnership project is progressing as scheduled, said Capt Aswani Prathap K, the deputy director of ports at Kerala Maritime Board.
“The agreement with the construction company was signed in June, and the shipyard is expected to be ready by August. Only a few minor issues remain, including removal of illegal sheds erected by fishermen. We have requested the district collector to remove those. Other than that, the project is progressing as per schedule and we expect the first vessel to be completed in 2027,” he said.
Under the agreement, the state government will provide an annual support of Rs 1.5 crore to the shipbuilder to promote employment generation and related industrial development. It will also lease the land to the company at an annual rent of Rs 25 lakh, with a 5% increase every year.
In return, the company will share a portion of its revenue with the government. It will pay 0.5% of its total order value during the first two years of operation, 0.75% for the two years after that and 1.5% thereafter.
Rs 200 cr order in bag
Hyderabad-based Travancore Precision Components has signed an agreement with the Kerala government to establish the facility on 29 acres within the port. Shipbuilding operations will be carried out by its subsidiary, Blue Gen Marine. The company has already secured its first major international order — a I200 crore contract from a Singapore-based firm to build two electric tugboats