Goa govt signs MoUs worth Rs 6,160 crore in Mumbai

Shoma Patnaik

Mumbai

With several states eyeing investments at the India Maritime Week 2025 taking place in Mumbai, Goa tied up Rs 6,160 crore of funding from domestic and international investors through memoranda of understanding signed on the inaugural day of the mega event.

Chief Minister Pramod Sawant said the government will fast track projects where the MoUs have been signed, adding that  Goa will contribute strongly to India’s maritime story due to a clear plan for developing the maritime economy.

“The preparation of the state maritime and waterways master plan is underway to make Goan ports an efficient corridor for cargo and passenger movement. The master plan will provide for modern infrastructure and robust maritime logistics to strengthen the blue economy. A comprehensive shipbuilding policy will follow shortly,” Sawant said, adding that the Goa Maritime Board is also being established.

The maritime board will make swift decisions and give speedy, single window approval to shipping projects, he pointed out.

The Chief Minister said hydrogen fuel stations in rivers, water taxis, a network of ferries on rivers and a mini-harbour in Cortalim are some of the projects under consideration by the state government in the coming years.

The MoUs worth  Rs 6,160 crore  inked by the state government on day 1 of the summit include the Rs 3,500-crore deal for a liquified natural gas terminal  and the Rs 200-crore agreement with the
Inland Waterways Authority of India.

“Goan shipyards have already delivered sophisticated vessels for global lines including fully electric and hybrid crafts. AI and digital technology are being used in shipyards. Cruise ships are bringing in new opportunities. Goa has expanded in the shipping industry,”  Sawant reckoned, speaking at the state session organised during the summit.

Goa and several states such as Gujarat, Odisha, among others, had specific sessions dedicated towards showcasing their achievements in the maritime sector to investors comprising shipping lines and stakeholders.

Sawant was speaking in the presence of Minister for Captain of Ports Digambar Kamat, Minister for River Navigation Subhash Phal Desai, Mormugao Port Authority chairman Dr N Vinod Kumar, Captain of Ports Octavio A Rodrigues, Ganpat University director Dr Dharmendra Sharma, KPIT director Sachin Wani, and Buoyancy Consultants co-founder Prasad Sawant.

The Goa state session was held soon after the inauguration  of the India Maritime Week by Union Home Minister Amit Shah, who said  the previous three editions of the summit have shown that structural reforms undertaken in the port sector have helped the maritime states of India.

“The government’s goal is to make India among the top five shipbuilding nations globally by 2037,” the Home Minister said,  pointing out that 90 per cent of EXIM trade in the country is by sea and that there is tremendous potential in developing domestic shipbuilding activities.