 "Shipping Secretary T K Ramachandran")
The central government will provide up to 25 per cent financial assistance to shipbuilders from the ₹8,261 crore fund for brownfield expansion, incentivising public and private sector companies to invest in adding capacity, Shipping Secretary T K Ramachandran told Business Standard.
This fund is part of the recently announced ₹70,000 crore package for the shipbuilding sector.
On Wednesday, the Union cabinet had approved the shipbuilding cluster development scheme worth ₹20,000 crore, which will be utilised for developing both greenfield and brownfield shipbuilding clusters over 10 years.
Existing shipyards will be supported by
