Acquisitions4 May 2026, 03:02 pm
Knowledge Marine Acquires Waterfront Land for Shipyard Expansion
AI Summary
Knowledge Marine & Engineering Works Ltd (KMEW) has announced the acquisition of approximately 15 acres of waterfront land in Saphale, Palghar, Maharashtra, through its subsidiary, Knowledge Shipyard Private Limited. The land includes an option for an additional 5-acre expansion. This strategic move will facilitate KMEW's entry into technology-driven, sustainable shipbuilding, supported by the site's proximity to the upcoming Vadhvan Port and natural marine advantages. The company plans to develop a fully integrated, digitally enabled shipyard with advanced infrastructure and a focus on sustainability.
Key Highlights
- KMEW acquires ~15 acres of waterfront land for shipyard via subsidiary.
- The site is strategically located near Vadhvan Port with natural marine advantages.
- KMEW plans a digitally enabled, sustainable shipyard with end-to-end capabilities.
- The shipyard aligns with India's Maritime India Vision 2030.
- The expansion will occur in three phases, starting with specialized workboats and tugs.