MoUs signed to boost port-led industrialisation, green fuels: VOC Port Authority Chairman

Mumbai (Maharashtra) [India], October 31(ANI): The V O Chidambaranar Port Authority (VOCPA), Tuticorin, has signed Memoranda of Understanding (MoUs) focused on port-led industrialisation, green hydrogen and green fuels, as well as advancing the use of artificial intelligence in our port operations

Highlighting the port's growing investment potential, VOCPA Chairman Susanta Kumar Purohit said that the authority has so far signed about 28 MoUs with various stakeholders, reinforcing its commitment to expanding maritime trade and infrastructure development.

"We have signed about 28 MoUs with various stakeholders so far, amounting to a total investment of Rs 1.27 thousand crore. These agreements focus on port-led industrialisation, green hydrogen and green fuels, as well as advancing the use of artificial intelligence in our port operations. In the award ceremony, VOC Port got 'Green Visionary' which shows Port's commitment to green initiatives,'' VOC Port Authority Chairman, Susanta Kumar Purohit, said, on the sidelines of India Maritime Week 2025,.

He said a lot of investment will come in our port areas and create on jobs.

Earlier, on October 30, Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal announced the signing of 23 Memoranda of Understanding (MoUs) worth over Rs 1.50 lakh crore at the India Maritime Week (IMW) 2025.

Sharing the update on X, Sonowal said the agreements reflect global confidence in India's growth story and the leadership of Prime Minister Narendra Modi.

The MoUs span key areas including port augmentation and modernisation, green initiatives, shipbuilding and repair, and global academic and skill development.

Sonowal congratulated all stakeholders and reaffirmed the government's commitment to turning these partnerships into tangible progress for building an Aatmanirbhar and strong maritime India.

On Thursday, Prime Minister Narendra Modi, in a long LinkedIn post, invited investors to invest in the Indian maritime sector, adding that India, which has a very long coastline, strategic global trade routes, world-class ports, an ambitious Blue Economy vision, and the necessary innovation and intent, can offer a perfect harbour for investments.

PM Modi affirmed that India's port capacity has doubled from 1,400 to 2,762 MMTPA over these years. Cargo handling rose from 972 to 1,594 MMT, including 855 MMT in FY 2024-25. Vessel turnaround time has been reduced from 93 hours to 48 hours. (ANI)

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