₹8,347 crore worth maritime related investments in Mangalore

With a focus on port-led industrialisation, Mangalore Refinery and Petrochemicals Ltd (MRPL) is set to invest ₹5,000 crore in port infrastructure and ₹1,500 crore in its own desalination plant. Other investments include ₹800 crore from Hindustan Petroleum Corporation Ltd and ₹500 crore from Indian Oil Corporation Ltd. Sealord Containers Ltd will set up an integrated LPG and bulk liquid POL storage facility, attracting ₹500 crore in investments. Additionally, an MoU with PHPC Associates for tank farms and storage infrastructure is expected to attract ₹47 crore in investment. The President of Kanara Chamber of Commerce and Industry has welcomed the investments, emphasising the need for industrial land and improved connectivity between the port and hinterland. The Chairman of NMPA has expressed commitment to the maritime sector and sees the MoUs as a positive step forward.