HD Hyundai to set up shipyard in Tamil Nadu

South Korean shipbuilding major HD Hyundai has announced plans to set up its first shipyard in India, choosing the port city of Thoothukudi in Tamil Nadu for the project. A Memorandum of Understanding (MoU) was signed in the presence of Tamil Nadu Chief Minister Mr MK Stalin, industries minister Mr TRB Rajaa and senior leadership from HD Korea Shipbuilding & Offshore Engineering (KSOE) at the Tamil Nadu Investment Conclave 2025 in Madurai. While neither the government nor the company disclosed the investment outlay, informed sources say that the project could require at least $2 billion (around `18,000 crore). HD Hyundai, one of the world’s largest shipbuilders, crossed a major milestone earlier this year by delivering a cumulative total of 5,000 vessels, as per a report.