The State government has decided to lease 18.16 acres at Ramanthuruth to Cochin Shipyard Limited (CSL) for a ship block building project, Chief Minister V.D. Satheesan said on Tuesday.
The Chief Minister stated the shipyard has agreed to invest ₹5,000 crore in the project. It is expected to generate around 2,000 direct jobs and further indirect employment, Mr. Satheesan said. He was speaking to reporters after a Cabinet meeting in Thiruvananthapuram on Tuesday.
The administration will receive an annual lease amount of ₹1.45 crore from the land, located on an island close to the city. The annual revenue from the lease will be around ₹1.70 crore, including GST, he said.
The project is anticipated to give a boost to the State’s shipbuilding sector and attract further investment, he remarked. “The matter had been pending for long, and the government took a decision through talks in a speedy manner,” the Chief Minister said.
Published – August 18, 2026 11:19 pm IST