Mangalore receives INR 8,347 crore boost for Maritime development

Unnati More Dec 11, 2023 0

The New Mangalore Port Authority (NMPA) has signed seven MoUs (Memorandum of Understanding) with several stakeholders worth an aggregate investment of 8,347 INR crores. The MoUs were signed following the Global Maritime India Summit (GMIS).

The investments majorly focus on port-led industrialization, with Mangalore Refinery and Petrochemicals Ltd (MRPL) leading the investments. The MoUs were signed for the following projects:

Also Read: India-Middle East-Europe Economic Corridor (IMEEC): A Global Economic Revolution

These investments are envisaged to enhance Mangalore’s trade and commerce. In a statement, the Chairman of NMPA, Dr AV Ramana, expressed commitment to the maritime industry and viewed the MoUs as positive steps forward.


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