Tata Group to invest ₹500 crore in JV with Malabar Cements for boat-building venture
The Hindu
Artson Engineering Limited, a Tata Projects Limited subsidiary, to invest ₹500 crore in boat-building JV with Malabar Cements.
Artson Engineering Limited, under the Tata Projects Limited, will invest ₹500 over the coming years in a Joint Venture (JV) with Malabar Cements to establish a facility for building boats with capacity of less than 100 tonnes.
The boat-building facility is expected to come up on a plot leased by the Malabar Cements for clinker imports on Kochi Port Authority land on Willingdon Island.
The engineering company signed an Expression of Interest with the Kerala Government on Saturday (February 22, 2025), the second day of the Kerala Global Investment Summit. The summit will end here on Saturday (February 22, 2025).
The announcement said that initially ₹100 crore will be invested in the boat-building project. The investment volume is expected to go up to ₹500 crore in the coming years. Artson Engineering is based in Hyderabad and was established in 1978 by individual promoters and 75% of the stakes in the company was taken over by Tata Projects.
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