The Tamil Nadu government has officially launched the ‘Shipbuilding Policy 2026,’ aiming to transform the state into a global destination for high-value ocean-going vessels like VLCCs (Very Large Crude Carriers). The policy offers a structured assistance package for shipyards committing a minimum investment of ₹1,000 crore and creating at least 1,000 jobs. To ensure seamless execution, a Special Purpose Vehicle (SPV) will be formed under SIPCOT to facilitate seaside facilities and project financing. This strategic move is expected to attract major global players and boost the state’s manufacturing ecosystem, positioning Tamil Nadu as a critical node in the global maritime supply chain.