The 8th Unit Approval Committee of the Madras Export Processing Zone (MEPZ) SEZ has granted approval to BNT Marine Crafts (India) to convert its Domestic Tariff Area unit in Abishegakuppam, Puducherry, into a 100 percent 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 a projected investment of Rs 2.25 crore, the unit aims to achieve net foreign exchange earnings of Rs 32 crore over the next five years. It is also expected to create 77 new work opportunities contributing to regional employment.

According to MEPZ SEZ, the current financial year has seen Rs 155 crore in fresh investments within its jurisdiction, resulting in the generation of 6,666 employment across sectors. The approval is seen as a boost to marine manufacturing exports and an opportunity to diversify the product mix of units under MEPZ’s purview.