Mazagon Dock Inks ₹15,000 Crore MoU with NSHIP-AP for Greenfield Shipyard in Andhra Pradesh

Key facts

• Mazagon Dock Shipbuilders (MDL) signed an MoU with National Shipbuilding and Heavy Industries Park-AP (NSHIP-AP) on September 18, 2026, to develop a greenfield shipyard at Dugarajapatnam in Andhra Pradesh, with an investment of around ₹15,000 crore over five to seven years.
• The project is expected to generate direct and indirect employment for around 45,000 people in Andhra Pradesh.
• The proposed shipyard will have a design capacity of 1.2 million gross tonnes per annum and will cater to commercial vessels including tankers, bulk carriers, container ships and LNG carriers.
• The broader Shipbuilding-cum-Port Cluster at Dugarajapatnam is estimated to cost around ₹29,254 crore for the shipbuilding and ship repair yard and ₹9,513 crore for the proposed port, developed under the Government of India's Shipbuilding Development Scheme (SbDS).
• NSHIP-AP, a special purpose vehicle formed jointly by the Andhra Pradesh Maritime Board and Visakhapatnam Port Authority, has identified MDL as the anchor shipyard.
• Andhra Pradesh aims to help India become one of the world's top five shipbuilding nations by 2047.
• MDL's current order book stands at under ₹18,000 crore and could cross ₹1 lakh crore in FY27 if anticipated submarine and naval vessel orders come through.
• MDL expects 15-17% revenue growth in the current financial year, with the P-75I submarine programme with Germany's ThyssenKrupp Marine Systems (TKMS) being a key potential order expected this financial year.
• Shares of Mazagon Dock ended nearly 2% higher at ₹2,252 on Friday, though the stock has declined over 9% since the beginning of this year and about 25% over the trailing 12-month period.