Fifteen Memorandums of Understanding worth ₹55,969 crore signed at ‘India Maritime Week 2025’ in presence of Chief Minister

Maharashtra will lead the nation in maritime trade and industry – Chief Minister Devendra Fadnavis

Mumbai, Oct 2025 : Through the Memorandums of Understanding signed today related to maritime trade and industry, Maharashtra will lead the nation in the field of maritime trade and industry in the coming period, expressed Chief Minister Devendra Fadnavis. Fifteen various Memorandums of Understanding were signed in the presence of Chief Minister Fadnavis at India Maritime Week 2025 organized at Nesco, Goregaon. The Chief Minister was speaking at that time.

On this occasion, Minister of Fisheries and Ports Nitesh Rane, Additional Chief Secretary of Ports Department Sanjay Sethi, Chief Executive Officer of Maharashtra Maritime Board P. Pradeep, and representatives of the companies with whom the MoUs were signed were present.

Mentioning that several companies have signed MoUs for the development of the maritime ecosystem, Chief Minister Mr. Fadnavis said that these are agreements worth about ₹56,000 crore. This will help Maharashtra take a leading role in the field of maritime trade and development. Facilities in the areas of ports, transport, industry, and business will become of global standards.

Chief Minister Mr. Fadnavis further said, “Water transport is important for Mumbai. After the start of the Ro-Ro service, citizens have given an excellent response. Now, a water taxi service is going to be started between Gateway of India and Navi Mumbai Airport, which will save a significant amount of travel time. Also, an electric vessel (EV Vessel) fleet is being introduced, which will make water transport clean and environment-friendly.”

Water sports centers, shipbuilding industries, and blue economy projects are developing in the state. A large port like Vadhavan is being constructed, and therefore Maharashtra will lead the nation in the maritime sector. The Vadhavan Port will be connected to important cities of the state by road. Hence, the benefit of Vadhavan Port will contribute to the overall development of the state, expressed Chief Minister Mr. Fadnavis.

Minister of Fisheries and Ports Nitesh Rane said that this is a proud moment for Maharashtra. Due to the farsightedness of Chief Minister Devendra Fadnavis, tremendous opportunities for development in the maritime sector have been created. Maharashtra is emerging as a leader in shipbuilding policy, passenger water transport, and maritime tourism. Very soon, Maharashtra will become the focal point of the nation’s maritime development. With these MoUs, Maharashtra’s maritime sector will get new global strength. The Minister Mr. Rane also said that a new chapter of investment has begun in port development, shipbuilding, ship repair, and maritime transport sectors.

Details of MoUs and Investments

1. Adani Ports and Special Economic Zone Ltd. – Development of Dighi Port and associated infrastructure as a mega port; proposed investment ₹42,500 crore.
2. JSW Infrastructure Ltd. – Expansion of existing ports at Jaigarh and Dharamtar; investment ₹3,709 crore.
3. Chowgule and Company Pvt. Ltd. – Shipbuilding, ship repair, rig repair, offshore and energy project development; investment ₹5,000 crore.
4. Synergy Shipbuilders and Dock Works Ltd. – Shipyard project for shipbuilding, ship repair, and ship recycling; investment ₹1,000 crore.
5. Goa Shipyard Ltd. – Shipyard project for shipbuilding, ship repair, and ship recycling; investment ₹2,000 crore.
6. Indian Institute of Technology (IIT) Mumbai – Establishing a Centre for Excellence to create research and development facilities for ship design and construction.
7. IIT Mumbai – Creating training facilities in marine engineering and infrastructure.
8. IIT Mumbai – Capacity building and skill development initiatives for Maharashtra Maritime Board employees.
9. Knowledge Marine and Engineering Works Ltd. – Shipyard project for shipbuilding and ship repair; investment ₹250 crore.
10. TSA Enterprises Pvt. Ltd. – Container Freight Station (CFS), shipyard, and floatel project at Vadhavan Port; investment ₹500 crore.
11. Candela Technology AB (Sweden) – Setting up shipyard for manufacturing passenger water transport vessels.
12. Abu Dhabi Ports Group (UAE) – Agreement to enhance cooperation between Maharashtra and the United Arab Emirates in the maritime sector.
13. Atal Turnkey Projects (Netherlands) – Cooperation between Maharashtra and the Netherlands in the maritime sector; investment ₹1,000 crore.
14. Echandia Marine AB – Setting up assembly and production facilities for marine battery energy storage systems for tugboats; investment ₹10 crore.
15. Mumbai Port Authority – Agreement for mutual cooperation to strengthen passenger water transport in the Mumbai Metropolitan Region.

Total Expected Investment – ₹55,969 crore.

A New Chapter of Investment in the Maritime Sector

Through these Memorandums of Understanding, large-scale investments will take place in Maharashtra in the fields of port development, shipbuilding, maritime research, and technical training. Two major projects – Dighi Port and Vadhavan Port – will enhance the state’s maritime trade capacity. Collaboration with IIT Mumbai will boost research and skill development.

This will create thousands of employment opportunities in the state, attract new industries, and accelerate the progress towards the goal of Developed India 2047. With the combined efforts of the Central and State Governments, maritime development is gaining new strength, and today’s MoUs are a concrete step in that direction, stated Chief Minister Devendra Fadnavis and Fisheries Minister Nitesh Rane.