Overview
- Shipping Minister Sarbananda Sonowal met HD Hyundai chairman Chung Ki‑sun in Seoul on Wednesday, and HD Korea Shipbuilding & Offshore Engineering reiterated its intent to be the primary strategic investor in the proposed Thoothukudi project.
- The two sides agreed to form a joint working group to steer the project and to finalise a detailed project report within six months to validate costs, schedule and the proposed investment structure.
- Project planners say the facility aims for about 2.5 million gross tonnes of annual shipbuilding capacity, but that figure, the joint‑venture equity split and final product mix will be confirmed only through the DPR and due diligence.
- NSHIP‑TN will facilitate waterfront land, infrastructure and statutory clearances while HD KSOE expects to host several of its vendors and transfer technology and training to build local shipbuilding skills.
- The plan is framed under India’s Shipbuilding Development Scheme and could make Thoothukudi India’s largest commercial shipyard if regulatory approvals, infrastructure works and the DPR all proceed as planned.