"Negotiations are underway to secure additional investment of Rs 40,000 crore for two most modern LPDs," Raju told a press conference here.
He said henceforth all the Naval warships, especially those needed for the Eastern Naval Command, will be built at the shipyard after its modernisation.
The minister informed that more vessels are being inducted in the Coast Guard fleet to enable it execute multiple tasks.
"Coast Guard at Kakinada is being strengthened by adding more vessels to its existing fleet for carrying out relief and rescue operations besides keeping a vigil on possible intrusion from high seas and safeguarding the oil and gas installations in the KG basin," Raju said, adding a separate enclave for the organisation is being mooted.
The Kakinada-Pithapuram railway line will materialise soon as the final survey has been completed, he added.