On 7 May 2008, Matrix Energy Ports
bagged a contract to develop a ship building unit at Vodarevu Port in Prakasam
district of Andhra Pradesh.
The project, which will be developed
under public private partnership, will have Hindustan Shipyard and the state
government as equity holders. Initially the ship building unit will handle
60,000 DWT and will have a draft of 12 m.
The state government has offered 1,500
acres of land for the project. The memorandum of understanding for the project
is scheduled to be signed by mid-may 2008, while the preparation of the
techno-commercial feasibility report and detailed project report is likely to be
completed within three to six months.