Cochin Shipyard Limited is in advanced talks with South Korea’s HD Hyundai Group to establish a $500-million shipbuilding joint venture in Kochi, marking the first time a global shipbuilding major is directly investing in core shipbuilding infrastructure in India, Mint reported on Tuesday.

The proposed venture, being structured with equal participation from both sides, signals a potential breakthrough in India’s long-standing ambition to emerge as a serious shipbuilding nation alongside established leaders such as China, South Korea and Japan, Mint said. The timing is significant, with Asian shipyards currently operating at full capacity and order books stretching years ahead.

Mint said the partnership will involve HD Korea Shipbuilding and Offshore Engineering (HD KSOE), the shipbuilding arm of the HD Hyundai Group. CSL chairman and managing director Jose VJ told Mint that a CSL delegation is set to visit South Korea this month to finalise discussions. Representatives from HD Hyundai have already conducted site inspections and preliminary evaluations in Kochi.

Jose said the agreement is expected in the second half of 2026, with an initial investment of about Rs 4,500-5,000 crore to build a ship block fabrication facility near CSL’s existing yard, Mint reported. The planned facility will be located close to CSL’s 310-metre dry dock in Kochi.
Source: MoneyControl