In a move that could boost Tamil Nadu’s status as a shipbuilding and ship repair hub, the State is set to sign investment MoUs with global and domestic shipping companies as part of the Madurai edition of the TN Rising Conclave on Sunday.
Sources in the know said that line-up of investments to be signed in the conclave includes shipbuilding projects along the Cuddalore and South TN coast.
While one will be from a global shipping major, whose name businessline could not confirm, shipping firm Chowgule Group’s shipbuilding division is also committing around ₹7,500 crore for a facility in South TN, sources said. Further, Chowgle Global is set to ink a deal to invest around ₹1,000 crore in Cuddalore district for a ship repair facility, they added. Once established, the projects can help boost the prospects of MSMEs in the related regions.
The shipping industry investment commitments come at a time when TN is in the process of formalising a Maritime and Shipbuilding Policy to incentivise new shipyards and attract global companies. Tamil Nadu is focused on turning “its 1,000-km coastline into a corridor of immense blue economy opportunities,” Industries Minister TRB Rajaa said recently.
Companies across aerospace, defence, IT and IT-enabled services, will also be part of the conclave, signing deals with the State. The event will also unveil the progress made by the State in the SIPCOT Melur project, the plans for a large industrial park in the Melur district near Madurai.
While Madurai’s business ecosystem is known for its traditional strengths of MSMEs across the textiles and industrial goods space, it is also becoming home to a growing number of IT companies – domestic and global – who choose the city for its talent base. The city is also spawning entrepreneurial talent in agritech. Like the other TN Rising Conclaves, the event in Madurai will also unveil investments signed up for other districts.
Published on December 7, 2025