By Shishir Prashant 
Investments worth Rs 66,000 cr expected
PrashantNews
India’s maritime sector is all set to witness a robust growth with the recent signing of MoUs with an investment of over Rs 66,000 crore which include the development of the Rs 908 crore water metro project in Patna.
The water metro project in Patna is expected to transform the capital of Bihar into a hub for inland water transport on the Ganga.
“As many as twenty-seven Memorandum of Understanding (MoUs) were exchanged between public and private sector stakeholders in the maritime sector, State Governments, and international partners. Together, these agreements carry an investment and development potential of over ₹66,000 crore and represent a significant collaborative commitment towards the growth of India’s maritime and shipbuilding sector,” top officials said.
The MOU’s were signed on 18th September, 2025 in the presence of Sarbananda Sonowal – Union Minister of Ports, Shipping and Waterways, Dr Mansukh Mandaviya – Union Minister of Labour & Employment, Youth Affairs & Sports, and Shri Shantanu Thakur – Minister of State for Ports, Shipping and Waterways at a ceremony in Bhavnagar.
The MoU ceremony showcased India’s integrated vision for maritime growth , covering new port infrastructure, shipping, shipbuilding clusters, global shipyard partnerships, financing mechanisms, innovative maritime investment, sustainable projects such as water metros and green tugs, as well as heritage-linked initiatives like the lighthouse museum. With their collective industrial, socio-economic, and strategic impact, these projects are set to re-position India as a leading global maritime and shipbuilding hub in the next decade, advancing the national resolve of an Atmanirbhar Bharat.
“Under the visionary leadership of Prime Minister Narendra Modi , India’s maritime sector is undergoing a historic transformation. These initiatives reflect our commitment to building a strong, self-reliant and globally recognised maritime ecosystem. With ports, shipbuilding and sustainable projects advancing at this pace, we are steering India closer to the goal of Viksit Bharat by 2047,” said Sonowal.
The most prominent of these agreements pertained to port development and capacity augmentation. A landmark MoU was signed between Paradip Port Authority, Visakhapatnam Port Authority, Sagarmala Finance Corporation Limited, and the Government of Odisha for the development of a new port at Bahuda, with a capacity of 150 million tonnes per annum proposed to be developed on more than 6,700 acres of coastal salt land that have been designated for maritime use, this project is expected to attract an investment of around ₹21,500 crore. It will act as an anchor for port-led industrialisation, logistics parks, and manufacturing clusters across Odisha and northern Andhra Pradesh. The Port is expected to provide direct and indirect employment opportunities to nearly 25,000 people while catalysing new waves of industrial and infrastructure development in eastern India.
Simultaneously, attention was also directed towards sustainable transport solutions, with the signing of an MoU between the Inland Waterways Authority of India and the Government of Bihar for a Water Metro Project in Patna. Valued at approximately ₹908 crore, this collaboration proposes to deploy energy-efficient electric ferries, develop modernised terminals, and integrate urban waterways with multimodal systems of public transport. Ten strategically identified terminal points along four potential routes in Patna will reconfigure how citizens travel across the river city, while the project will stand as a pilot for similar initiatives in other Indian cities.
On the shipping front, a significant step towards India’s energy independence was unveiled through the MoU between the Shipping Corporation of India and the Oil PSUs—IOCL, BPCL, and HPCL—for the creation of a Vessel Owning Joint Venture Company. This is the first in a series of steps that will pool vessel demand from energy PSUs, thereby reducing reliance on foreign shipping fleets. It will also ensure long-term charter contracts for Indian-built ships, supported by SCI’s regulatory and operational expertise. The MoU aims to secure India’s vital crude oil and product transportation chains while scaling up demand for Indian shipbuilders in tandem with the Government’s Atmanirbhar Bharat programme.
Another category of MoUs at the ceremony pertained to shipbuilding and its allied clusters. In a move that could fundamentally alter the global perception of India’s shipbuilding capacity, the Ministry facilitated MoUs between major ports under MoPSW, GOI and the State Governments of Andhra Pradesh, Odisha, Gujarat, Maharashtra and Tamil Nadu for initiating the setting up of Shipbuilding clusters. These will be enabled through SPVs with joint investments from centre and states, supported by land transfer at nominal cost, tax incentives, and enabling policy measures. Each cluster will not only house state-of-the-art shipyards but also R&D centres, small industry linkages, ancillary units, specialised training facilities, and logistics corridors. The effort is targeted to position India amongst the world’s top five global shipbuilding nations by the 100th year of independence in 2047. Moreover, these clusters are designed as green innovation hubs, encouraging carbon-neutral shipbuilding and environmentally friendly marine engineering solutions.