A memorandum of understanding in this regard was
signed between the two companies in Kochi on Saturday 22 Feb ’25. Speaking to reporters on the sidelines of
the Invest Kerala Global Summit, Shashank Jha, CEO of Artson Engineering, said
shipbuilding is one of the most profitable enterprises. According to him, an
investment of ₹1 will fetch a return of ₹8 in shipbuilding.
The new venture will focus on medium-sized vessels of
100 tonne catering to the needs of the opportunities in the inland water
transportation sector in the country. The Pradhan Mantri Gatishakthi Project is
expected to increase the demand for the inland water transport vessels.
Chandra Bose J,
Managing Director of Malabar Cements Ltd, said the venture will come up in
seven acres of land taken on a long lease by MCL from the Kochi Port. The
venture is expected to create direct employment opportunities for 300 persons.