HD Hyundai signs MOU with Tamil Nadu to develop new Indian shipyard

HD Hyundai has entered a major strategic partnership with the Tamil Nadu state government to establish a new shipyard in southern India. The agreement was formalized during a ceremony held in Madurai with the participation of Tamil Nadu Chief Minister M.K. Stalin, State Industries Minister T.R.B. Rajaa, and Choi Hannae, Head of Corporate Planning at HD Korea Shipbuilding & Offshore Engineering.

Supporting India’s Vision for Global Shipbuilding Leadership

India is accelerating its Maritime Amrit Kaal Vision 2047, an initiative aimed at positioning the country among the world’s top five shipbuilding and shipping nations. To achieve this goal, the government is evaluating both the expansion of existing shipyards and the establishment of new facilities across the country.

Five states, including Tamil Nadu, Gujarat, and Andhra Pradesh, have been shortlisted as candidates for the new shipyard location. Tamil Nadu has taken an active lead, offering incentives, subsidies, strengthened infrastructure, and skilled workforce development to secure the project. The state ultimately selected HD Hyundai as its partner for the shipyard development.

Thoothukudi Positioned as Prime Location

The port city of Thoothukudi in Tamil Nadu is widely viewed as an ideal site for the shipyard due to climate conditions similar to Ulsan in South Korea, home of HD Hyundai Heavy Industries. The region already hosts major Korean investors such as Hyundai Motor Company and Samsung Electronics, and further large-scale port infrastructure investments are planned. These developments are expected to unlock significant economic potential for both Tamil Nadu and HD Hyundai.

Expanded Strategic Cooperation with BEML

Earlier this month, HD Hyundai also signed a Memorandum of Understanding with BEML, a state-owned enterprise under India’s Ministry of Defence, to support development in maritime and port crane manufacturing. BEML is active across defense, aerospace, construction, mining, and rail transport sectors, with factories located across southern India.

The collaboration includes design, manufacturing, and quality assurance for port cranes, aiming to build domestic production capacity. HD Hyundai plans to expand its crane business in India by supplying goliath and jib cranes to local shipyards.

Proven Track Record in India

HD Hyundai’s presence in the Indian maritime sector has been steadily growing. HD Hyundai Samho delivered a 600-ton Goliath crane to Cochin Shipyard earlier this year, while HD Korea Shipbuilding & Offshore Engineering recently acquired HD Hyundai Eco Vina from Doosan Enerbility to further strengthen its crane business portfolio.

The company has also deepened its long-term collaboration with Cochin Shipyard, initially focusing on design, productivity, and workforce development. The partnership has since expanded to naval shipbuilding projects, signaling strong future potential.

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