HD Korea Shipbuilding & Offshore Engineering, the holding company for HD Hyundai’s shipbuilding and offshore division, has embarked on establishing a shipyard with an annual capacity of 3.5 million to 4 million tons in Thoothukudi, Tamil Nadu, India. This scale is comparable to the total production capacity of 4 million to 4.5 million tons planned for 3 to 4 shipbuilding clusters by the Indian government.

India has previously set goals of entering the global top 10 in ship ownership and shipbuilding by 2030, and reaching the top 5 by 2047. To achieve this, it has announced plans to expand ship ownership sevenfold to 100 million tons by 2047 and to increase shipbuilding production fortyfold to 4.5 million tons by 2037.

di shipyard as an “anchor shipyard” to attract the entire supply chain and partner companies within a cluster spanning approximately 3,000 acres. The Tamil Nadu state government is reportedly also in contact with POSCO, separately from HD Hyundai, to negotiate a support package for establishing a steel plant.

HD Hyundai also plans to establish a marine crane manufacturing facility within the cluster. Thoothukudi, evaluated as having a location similar to Ulsan where HD Hyundai’s major shipyards are situated, features low salinity levels, reduced risk of typhoons and other natural disasters due to Sri Lanka serving as a natural shield, and an industry-friendly policy environment—factors that make it a trusted investment destination for Korean companies.
Source: Business Korea