The 8th Unit Approval Committee of the Madras Export Processing Zone (MEPZ) SEZ has approved BNT Marine Crafts (India) to convert its Domestic Tariff Area unit in Abishegakuppam, Puducherry, into a 100 per cent export oriented unit (EOU).

This marks the first marine sector EOU under MEPZ’s jurisdiction. The company will manufacture semi-submarines, tourist vessels, commercial vessels and premium vessels for international markets. With an investment of Rs 22.5 million, the unit aims to generate net foreign exchange earnings of Rs 320 million over the next five years. It is also expected to create 77 new jobs, contributing to regional employment growth.

According to MEPZ SEZ, the current financial year has witnessed Rs 1.55 billion in fresh investments within its jurisdiction, leading to the creation of 6,666 jobs across various sectors. The approval is considered a boost for marine manufacturing exports and an opportunity to diversify the product portfolio of units under MEPZ.