Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal met HD Hyundai Chairman Chung Ki-sun in Seoul to accelerate progress on India's proposed greenfield shipyard at Thoothukudi, Tamil Nadu. The meeting established a Joint Working Group (JWG) to oversee project development and work towards agreeing a joint venture structure, with the Detailed Project Report (DPR) expected to be finalized within six months.
The $4 billion investment project is being developed under the Government of India's Shipbuilding Development Scheme and is envisaged to have an annual shipbuilding capacity of approximately 2.5 million Gross Tonnage (GT), subject to validation through the DPR. Once operational, it is expected to be India's largest commercial shipyard, significantly strengthening domestic shipbuilding capacity and India's competitiveness in the global maritime industry.
HD Korea Shipbuilding & Offshore Engineering (HD KSOE), HD Hyundai's shipbuilding arm, reiterated its strong intent to participate as a primary strategic investor, bringing its global expertise in shipyard design, construction, advanced manufacturing and operations. National Shipbuilding & Heavy Industries Park, Tamil Nadu Limited (NSHIP-TN) will facilitate the availability of suitable waterfront land, development of enabling infrastructure and utilities, and coordination with relevant authorities for timely statutory approvals.
The collaboration aims to establish a globally competitive shipbuilding ecosystem in India with emphasis on technology transfer and workforce skilling. Opportunities for technical training, knowledge exchange and collaboration with Indian industry and academic institutions will be explored to strengthen indigenous shipbuilding capabilities and generate skilled employment.
The project builds on the India–Republic of Korea Comprehensive Framework for Partnership in Shipbuilding, Shipping and Maritime Logistics adopted in April 2026 and the Memorandum of Understanding signed on 20 April 2026 between HD-KSOE and NSHIP-TN. Minister Sonowal highlighted that Indian public agencies are looking to acquire more than 400 vessels in the coming years, which the Thoothukudi shipyard could potentially construct alongside export orders.
Preparatory activities including site assessments, infrastructure planning and preliminary dredging/reclamation studies will be progressed to support project readiness. The Thoothukudi shipyard is envisaged as a flagship initiative under the India–Republic of Korea Special Strategic Partnership, combining Korea's advanced shipbuilding expertise with India's industrial capabilities and long-term maritime ambitions.