Maharashtra's Maritime Sector Boosted by Major Shipyard in Konkan Region

A shipyard located in Dabhol, Konkan region, a subsidiary of Hazoor Multi Projects Limited, has started operations. The shipyard, Square Port Shipyard Pvt. Ltd., has secured an order from a UK-based shipping company and has initiated the ship building activity with a steel cutting ceremony. The shipyard was previously owned by Bharati Defence Infrastructure Limited which went into insolvency in 2017-18. Currently, 5 vessels are under construction and the company is in talks with other major foreign shipyards. This development is expected to contribute to Maharashtra's maritime capability and its goal of becoming a $1 Trillion economy by 2027.