India's proposed greenfield mega shipyard at Thoothukudi in Tamil Nadu moved a step forward on Wednesday, as Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal met HD Hyundai Chairman Chung Ki-sun in Seoul and the two sides set up a joint working group to steer the project, ANI reported.

Source: ANI via LatestLY

The joint working group will oversee project development, the two sides will work towards agreeing a joint venture structure, and the Detailed Project Report (DPR) is expected to be finalised within six months. HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the shipbuilding arm of HD Hyundai, reiterated its intention to participate as a primary strategic investor.

A $4 billion yard, billed as India's largest commercial shipyard

The shipyard, being developed under the Government of India's Shipbuilding Development Scheme, carries an estimated investment of $4 billion (yaani about 400 crore US dollars) and is envisaged to have an annual shipbuilding capacity of approximately 2.5 million gross tonnage, subject to validation through the DPR. Once operational, it is expected to be India's largest commercial shipyard.

Source: Daily Prabhat (ANI)

$4 billionEstimated investment in the Thoothukudi greenfield shipyard
2.5 million GTEnvisaged annual shipbuilding capacity, subject to DPR validation
6 monthsTarget to finalise the Detailed Project Report

"We have a clear mandate to scale up our work together. The MoU we signed on 20 April 2026 is the bedrock of what we want to build together in Thoothukudi, Tamil Nadu. A greenfield shipyard with a $4 billion investment is a massive milestone, and we are completely committed to backing it," Sonowal said at the meeting, telling Chung that his main goal in Seoul was to turn the shared vision into reality as quickly as possible.

The project builds on the Memorandum of Understanding signed on 20 April 2026 between HD KSOE and National Shipbuilding & Heavy Industries Park, Tamil Nadu Limited (NSHIP-TN), and on the India–Republic of Korea Comprehensive Framework for Partnership in Shipbuilding, Shipping and Maritime Logistics adopted in April 2026 during South Korean President Lee Jae Myung's state visit to New Delhi. NSHIP-TN will facilitate waterfront land, enabling infrastructure and utilities, and coordination for statutory approvals, while the collaboration also aims at technology transfer and workforce skilling with Indian industry and academic institutions.

Source: Dainik Jagran English

The meeting took place during Sonowal's four-day visit to South Korea focused on deepening cooperation in shipbuilding and the wider maritime industry. The final investment structure, equity participation and implementation arrangements will be determined after due diligence and the necessary approvals.