Union Minister for Road, Transport and Highways Nitin Gadkari on Tuesday laid the foundation stone for India's largest Dry Dock at Cochin Shipyard in Kerala's Kochi and said that the central government has no plans to privatise profit-making industrial units in the country.
Kerala Chief Minister Pinarayi Vijayan was also present on the occasion.
Expected to generate employment opportunities for around 2,000 people, the Dry Dock is being constructed at a cost of Rs 1,799 crore and will be completed by May 2021.
Speaking on the occasion, Mr Gadkari said that the Centre is not planning to privatise profit-making industrial units. He also praised the contributions of the Cochin Shipyard in the field of skill training in shipbuilding.
Mr Gadkari added that the central government has a plan to invest in Inland Waterways in Kerala.
Mr Vijayan said that the Cochin Shipyard has played a key role in the economic development of the state.
He added that the new initiative would further boost the economic prospect of Kerala and India's share in the global shipping industry will rise to two per cent.