United Petro and Sadhav Shipping ink MoU with Odisha Govt for shipbuilding, boosting India's Maritime Vision 2047.
United Petro Group from Singapore and Sadhav Shipping Ltd. from Mumbai have signed a Memorandum of Understanding with the Government of Odisha to establish shipbuilding and offshore facilities in Odisha, India. The agreement was formalized during the "Utkarsh Odisha, Make in Odisha Conclave 2025" and aims to support various vessel needs, including oil tankers and naval ships. This initiative aligns with India's Maritime Amrit Kaal Vision 2047, promoting port-led development. The new joint venture will focus on shipbuilding, dry dock repairs, oil rig maintenance, and integrated offshore supply facilities, leveraging the Maritime Development Fund and recent budget initiatives.