Tata Group's Artson and Malabar Cements Launch Boat Manufacturing Venture in Kochi

Artson Group and Malabar Cements have partnered to establish a boat manufacturing unit. The Rs 300 crore venture, announced at the Invest Kerala Global Summit, aims to boost industrial growth in Kochi. Initial production will serve the Kochi Water Metro, with potential exports to Europe.

In a significant development at the Invest Kerala Global Summit, Artson Group, a Tata Group subsidiary, and public sector undertaking Malabar Cements have forged a partnership to kickstart a boat manufacturing unit in Kochi.

The collaborative move comes under a Memorandum of Understanding (MoU) for a project worth Rs 300 crore, aiming to bolster industrial activity in the region. The initiative will see the construction of vessels under 100 tonnes on a seven-acre plot leased by Malabar Cements from the Cochin Port Trust.

Artson Group's CEO, Shashank Jha, and Malabar Cements' Managing Director, Chandra Bose, conveyed that the manufacturing unit is expected to be operational within six months. Initially targeting the Kochi Water Metro, plans to export to European markets are also on the table.