Artson Group, a subsidiary of the Tata Group, and Malabar Cements have signed a memorandum of understanding to set up a boat manufacturing unit in Kochi. The project, valued at Rs 300 crore, was formalized at the Invest Kerala Global Summit.
The manufacturing facility will be built on seven acres of land leased by Malabar Cements from the Cochin Port Trust. It will produce vessels under 100 tonnes, with operations expected to commence within six months following further government discussions, according to Artson Group CEO Shashank Jha and Malabar Cements Managing Director Chandra Bose.
In the initial phase, the unit will supply boats to the Kochi Water Metro, which currently operates 16 electric hybrid boats across five routes, including the recently inaugurated High Court-Fort Kochi route. The Water Metro plans to expand its fleet, with Cochin Shipyard Limited delivering the 17th boat in December 2024. The service is expected to ferry 34,000 passengers daily when fully operational. The boats are equipped with advanced battery technology capable of supercharging in 15 to 20 minutes and are designed to be eco-friendly with zero emissions. Plans for exporting vessels to Europe are also under consideration.
The Invest Kerala Global Summit, where the agreement was signed, was organized by the Kerala government with support from industry stakeholders.