HD Hyundai has signed a strategic partnership with the Tamil Nadu state government regarding the establishment of a new shipyard in India.
The ceremony was held recently in Madurai, southern India, with the attendance of Tamil Nadu Chief Minister M.K. Stalin, State Industries Minister T.R.B. Rajaa, and Head of Corporate Planning at HD Korea Shipbuilding & Offshore Engineering, Choi Hannae.
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.
In practice, the Indian government has shortlisted five states, including Tamil Nadu, Gujarat, and Andhra Pradesh, as candidate sites for the construction of a new shipyard and is currently in the process of identifying the most suitable location.
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. As a result, the state has ultimately selected HD Hyundai as its project partner for the establishment of the new shipyard.
In particular, the Thoothukudi region of Tamil Nadu, cited as one of the candidate sites for the new shipyard, is regarded 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, and large-scale investments are planned for nearby port facilities, further strengthening expectations for future business expansion.
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Earlier this month, HD Hyundai also signed a Memorandum of Understanding on collaboration for maritime and port crane development in India with Bharat Earth Movers Limited (BEML), a state-owned enterprise under the Indian Ministry of Defence, in Bengaluru, southern India.
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.
An HD Hyundai official reported: “India is a market with strong growth potential, backed by the government’s robust commitment to fostering the shipbuilding industry.
“We will continue to expand cooperation with India in the shipbuilding and offshore sectors and develop it into a new growth engine.”
Earlier this summer, the American Bureau of Shipping and HD Hyundai Samho signed an MoU to collaborate on the development of an AI-based smart shipyard.
For more information:
HD Hyundai – https://www.hd.com/en/main
