Ahmed Coal Corporation announced a decisive step to reshape Eastern India’s shipping industry with a substantial Foreign Direct Investment (FDI) initiative focused on advancing shipbuilding and inland navigation on Monday, 30th September 2024 at Press Club, Kolkata. As major government yards across India experienced a surge in orders, the company positioned itself to capitalise on the growing demand for port utility crafts. This strategic investment aimed to transform the region’s maritime landscape, promising enhanced infrastructure and operational efficiency in the years to come. The conference was graced by esteemed dignitaries, including Biswajit Das, Managing Director, Maa Tara Marine & Shipyard Private Limited; Pradeep Deb, Director, Maa Tara Marine & Shipyard Private Limited; Tapan Ghosh, Director, Maa Tara Marine & Shipyard Private Limited; Zeeshanuddin Ahmed, CMD, Ahmed Coal Corporation; and Sazzad Zahir, President, Ahmed Coal Corporation.
To actualise this vision, Ahmed Coal Corporation has signed a contract with Maa Tara Marine & Shipyard Private Limited for the construction of a fleet of Cargo Barges and Ships, including Mobile Harbour Cranes. The contract spans ten years, after which the vessels will operate from all ports of India including Haldia and Kolkata Port.
The initial investment of Rs. 2000 Crores is expected to escalate to Rs. 20000 Crores over the next five years, marking this as the largest investment in the Eastern India shipping sector in the last decade. This initiative is anticipated to generate thousands of new job opportunities, significantly contributing to local employment and economic growth. As the goods and commodities begin to flow in after two years, the project will catalyse a marked increase in overall commerce, paving the way for a healthier economy and abundant job opportunities in Eastern India. Ahmed Coal Corporation looks forward to driving substantial economic growth through this transformative initiative, solidifying its role as a key player in the region’s shipping industry.
‘This landmark investment is not just a commitment to enhancing our shipping capabilities; it’s a pledge to the economic development of Eastern India. We are excited to lead this charge, creating thousands of jobs while facilitating a significant increase in commerce and trade in the region. This initiative will undoubtedly boost the shipping and Exim business and foster tourism through improved inland navigation,” said our honourable CMD Mr Zeeshanuddin Ahmed and Sazzad Zahir, President, Ahmed Coal Corporation.
 initiative focused on advancing shipbuilding and inland navigation on Monday, 30th September 2024 at Press Club, Kolkata.){kind=link}