HD Hyundai Heavy Industries has signed an exclusive business agreement to promote the establishment of a new shipyard with the state government of Tamil Nadu in India.
The South Korean shipbuilder said the initiative aligns with the Indian Government’s aim to position the country as a “top-five global shipbuilding power”.
The state of Tamil Nadu is currently being evaluated as a potential location, with the Thoothukudi region highlighted as a candidate site due to weather conditions similar to Ulsan, South Korea, where HD Hyundai is based.
Separately, HD Hyundai signed a business agreement with Bharat Earth Movers (BEML), a state-run enterprise under the Indian Ministry of Defence, to expand cooperation in crane manufacturing. The partnership aims to supply Goliath and jib cranes to local shipyards.
An HD Hyundai official commented, "India is a market with promising growth potential due to the government's strong commitment to fostering the shipbuilding industry. We will continue to expand cooperation with India in the shipbuilding and marine sectors."