Andhra Pradesh is stepping up its global investment outreach by inviting South Korean companies to invest in the proposed ₹30,000 crore Dugarajapatnam Shipbuilding Hub, a mega project aimed at transforming the state into one of India's leading maritime manufacturing and shipbuilding destinations.
Major Push for Shipbuilding
During his visit to Busan, South Korea, Andhra Pradesh Minister Nara Lokesh showcased the state's strengths, including:
1,053-km-long coastline
Expanding network of ports
Robust industrial ecosystem
Strategic location for global maritime trade
He invited Korean shipbuilding and marine equipment manufacturers to establish operations in Andhra Pradesh and participate in the development of the proposed shipbuilding hub.
Opportunities Beyond Shipbuilding
The discussions also explored investment opportunities across multiple sectors, including:
Footwear manufacturing
Research & Development (R&D)
Financial services
Infrastructure development
Innovation and technology
The initiative aims to deepen economic cooperation between India and South Korea while attracting advanced manufacturing capabilities to the state.
APEX Korea Launched in Busan
To facilitate international investments, Andhra Pradesh inaugurated APEX Korea in Busan—its first overseas investment facilitation centre.
The centre will assist global companies with investment guidance, approvals, and business support, making it easier for foreign firms to establish operations in the state.
Building a Global Manufacturing Hub
With large-scale infrastructure projects, export-oriented manufacturing, and strategic international partnerships, Andhra Pradesh is positioning itself as a key destination for global investments and a major player in India's maritime and industrial growth story.
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