Hyundai Shipbuilding Project in Thoothukudi to Bring ₹38,000 Crore Investment and 15,000 Jobs

Hyundai Shipbuilding Project Proposed in Thoothukudi

A high-level delegation from HD Korea Shipbuilding & Offshore Engineering (HD KSOE), South Korea, met Tamil Nadu Chief Minister Thiru C. Joseph Vijay to review the progress of the proposed shipbuilding cluster in Thoothukudi.

The project involves an estimated investment of approximately ₹38,000 crore (around USD 4 billion) and is expected to generate nearly 15,000 direct employment opportunities. The initiative is also expected to boost ancillary industries and strengthen the local supply chain ecosystem.

HD KSOE, one of the world's leading shipbuilders, has signed a Memorandum of Understanding with the Government of Tamil Nadu for establishing a modern shipbuilding cluster in Thoothukudi.

To facilitate the project, National Shipbuilding & Heavy Industries Park Tamil Nadu Limited (NSHIPTN) was formed jointly by SIPCOT and VOC Port Authority. The project has also received in-principle approval from the Directorate General of Shipping, Government of India.

During the meeting, the delegation briefed the Chief Minister on the progress made so far and reaffirmed the company's interest in establishing the project at the earliest.

The Tamil Nadu government reiterated its commitment to providing institutional support and ensuring the timely implementation of this strategic investment.

Key Highlights

• ₹38,000 crore investment proposed for Thoothukudi.

• Around 15,000 direct employment opportunities expected.

• HD KSOE of South Korea is leading the project.

• A shipbuilding cluster will be developed in Thoothukudi.

• The project is expected to benefit ancillary industries and local businesses.

• Tamil Nadu government has assured support for speedy implementation.