HD Hyundai signs MOU for new shipyard in Tamil Nadu, India
The company chose Thoothukudi, Tamil Nadu, due to favorable climate and port investment.
HD Hyundai has inked a memorandum of understanding for the establishment of a new shipyard in Tamil Nadu, India.
“The Indian government is strategically pursuing the ‘Maritime Amrit Kaal Vision 2047’ in an effort to become one of the world's top five shipbuilding and shipping nations. To achieve this goal, the government is actively reviewing not only the expansion of existing shipyards but also the establishment of new facilities,” HD Hyundai said in a statement.
Seeking to revitalise the local economy, the Tamil Nadu state government has made the establishment of a shipyard its top priority and has expanded efforts to provide incentives and subsidies, enhance infrastructure, and secure skilled talent.
The Thoothukudi region of Tamil Nadu was determined as an optimal location, with temperature and rainfall conditions similar to those of Ulsan, Korea, where HD Hyundai Heavy Industries is located. It already hosts major Korean companies such as Hyundai Motor Company and Samsung Electronics.
Large-scale investments are planned for nearby port facilities, further strengthening expectations for future business expansion.
Earlier this month, HD Hyundai signed an agreement on the collaboration for maritime & port crane development in India with Bharat Earth Movers Limited (BEML).
Through this agreement, HD Hyundai plans to strengthen collaboration with BEML across the entire crane manufacturing process—including design, production, and quality assurance—aiming to gradually build port crane manufacturing capabilities within India. Looking ahead, the company also plans to expand its business by supplying goliath and jib cranes to local shipyards in India.
