HD Hyundai announced Monday that it has signed a partnership with the state government of Tamil Nadu in southern India to explore the establishment of a new shipyard, aiming to capitalize on the country’s growing maritime ambitions.
The memorandum of understanding was signed Sunday at a ceremony in Madurai, Tamil Nadu, attended by Tamil Nadu Chief Minister M.K. Stalin and Choi Han-nae, head of planning at HD Korea Shipbuilding & Offshore Engineering.
The initiative aligns with New Delhi’s "Maritime Amrit Kaal Vision 2047” — a long-term national road map aimed at turning India into a global shipbuilding and shipping hub. Under this initiative, the Indian government is actively supporting maritime infrastructure expansion across five key coastal states, including Tamil Nadu, through subsidies and other incentives.
Thoothukudi, a major port city in Tamil Nadu, has emerged as a leading candidate for the prospective site. HD Hyundai said the region’s climate and rainfall patterns are similar to those of Ulsan, South Korea — home to the shipbuilder’s main yard — making it a favorable location for operations. The area also hosts a growing cluster of Korean conglomerates, with Samsung Electronics and Hyundai Motor already running large-scale facilities nearby.
As part of efforts to expand its presence in India, HD Hyundai is also strengthening its local supply chain. Earlier this month, HD Hyundai Samho, a shipbuilding affiliate, partnered with BEML, a state-run equipment manufacturer in Bengaluru, to co-develop port cranes.
This followed a strategic alliance formed in July with Cochin Shipyard, India’s largest state-owned shipbuilder. Initially focused on design support and engineering, the collaboration recently broadened to include naval ship construction, extending HD Hyundai's footprint in the defense sector.
“India is a market with immense growth potential, backed by the government’s strong determination to nurture the shipbuilding industry,” an HD Hyundai official said. “We will continue to expand cooperation in the shipbuilding and offshore sectors to secure new growth engines.”
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