Mangalore Refinery and Petrochemicals Ltd (MRPL) plans to invest 5,000 crore in port infrastructure and 1,500 crore in its own desalination plant, with a focus on port-led industrialisation. Hindustan Petroleum Corporation Ltd has invested 800 crore, and Indian Oil Corporation Ltd has invested 500 crore.
Sealord Containers Ltd would invest Rs 500 crore to build an integrated LPG and bulk liquid POL storage facility. In addition, an agreement with PHPC Associates for tank farms and storage facilities is estimated to bring in Rs 47 crore. The Kanara Chamber of Commerce and Industry President has welcomed the investments, highlighting the importance of industrial land and enhanced connectivity between the port and the hinterland. The Chairman of NMPA has expressed commitment to the maritime sector and sees the MoUs as a positive step forward.