Tamil Nadu Government signed a Memorandum of Understanding (MoU) on July 03, with the Goodearth Maritime Ltd to build a shipyard at Silambimangalam of Cuddalore district, about 400 km south of Chennai, India. Goodearth owns and operates a fleet of six ships. Their ships are involved in transportation of Cement, Granites, Steel, Iron Ore, Coal, Wheat, Fertilizers and many types of dry bulk commodities.
Some of the interesting features of the Cuddalore project are:
- project investment of Rs 10 billion.
- to be implemented in two phases and an amount of Rs 5 billion will be invested in the first phase.
- the shipyard to build ships with 45,000 dwt to 80,000 dwt.
- the shipyard to commence ship building by 2010.
Goodearth is part of a large trading group that owns and operates 6 Dry Bulk Cargo vessels – made of 3 Panamax and 3 Handymax vessels. Also the vessels carry coal for the Tamil Nadu Electricity Board (TNEB).
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