HD Hyundai unveils plan for new shipyard in India, strengthening strategic footprint

The group has signed a strategic partnership with the Tamil Nadu state government in Madurai, southern India, to advance the new shipyard initiative.

HD Hyundai highlighted the Thoothukudi region of Tamil Nadu is an ideal location, with climate conditions – temperature and rainfall – similar to those in Ulsan, South Korea, home to Hyundai Heavy Industries. The region also hosts major Korean companies, including Hyundai Motor Co and Samsung Electronics.

Tamil Nadu was shortlisted by the Indian government alongside four other states as a potential site for the new shipyard. The process is now focused on selecting the most suitable location. With the goal of boosting the local economy, the Tamil Nadu government has made the shipyard project a top priority, offering incentives, subsidies, enhanced infrastructure, and support for skilled talent. The state has ultimately chosen HD Hyundai as its project partner.

The Indian government is pursuing the Maritime Amrit Kaal Vision 2047, aiming to become one of the world’s top-five shipbuilding and shipping nations. This strategy involves both expanding existing shipyards and establishing new facilities.

Expanding co-operation in India

Earlier this month, HD Hyundai signed a memorandum of understanding (MoU) with Bharat Earth Movers Ltd, a state-owned enterprise, to collaborate on maritime and port crane development. The partnership aims to gradually build port crane manufacturing capabilities within India.

Additionally, HD Hyundai’s subsidiary, HD Hyundai Samho, delivered a 600-tonne Goliath crane to Cochin Shipyard, India’s largest state-owned shipbuilder, in February. 

Over the summer, HD Hyundai also signed an MoU with Cochin Shipyard to promote co-operation in areas such as design and procurement support, productivity enhancement, and human capital development. This partnership has since expanded to include naval vessel projects, further strengthening HD Hyundai’s presence in India.

“India is a market with strong growth potential, supported by the government’s commitment to developing the shipbuilding industry,” said an HD Hyundai official. “We will continue to expand our co-operation with India in the shipbuilding and offshore sectors and develop it into a new growth engine.”