HD Hyundai in move to establish new shipyard in Tamil Nadu, India
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South Korean shipbuilding giant HD Hyundai has signed a strategic and comprehensive partnership agreement with the Tamil Nadu state government on the establishment of a new shipyard in India.<\/p>\n
HD Hyundai notes that the Indian government is strategically pursuing the \u201cMaritime Amrit Kaal Vision 2047<\/a>\u201d in an effort to become one of the world\u2019s top five shipbuilding and shipping nations. To achieve this goal, the government is actively reviewing not only the expansion of existing shipyards but also the establishment of new facilities.<\/p>\n The Indian government has shortlisted five states\u2014including Tamil Nadu, Gujarat, and Andhra Pradesh\u2014as candidate sites for the construction of a new shipyard and is currently in the process of identifying the most suitable location. Seeking to revitalize the local economy, the Tamil Nadu state government has made the establishment of a shipyard its top priority and has expanded efforts to provide incentives and subsidies, enhance infrastructure, and secure skilled talent. As a result, the state has ultimately selected HD Hyundai as its project partner for the establishment of the new shipyard.<\/p>\n In particular, the Thoothukudi region of Tamil Nadu\u2014cited as one of the candidate sites for the new shipyard\u2014is regarded as an optimal location, with temperature and rainfall conditions similar to those of Ulsan, Korea, where HD Hyundai Heavy Industries is located. It already hosts major Korean companies such as Hyundai Motor Company and Samsung Electronics, and large-scale investments are planned for nearby port facilities, further strengthening expectations for future business expansion.<\/p>\n Earlier this month, HD Hyundai also signed a Memorandum of Understanding on the collaboration for maritime & port crane development in India with BEML (Bharat Earth Movers Limited), a state-owned enterprise under the Indian Ministry of Defence, in Bengaluru, southern India. Headquartered in Bengaluru, BEML operates in various sectors including defense and aerospace equipment, mining and construction equipment, and railway and metro vehicles. The company also has multiple manufacturing bases in southern India, including Bengaluru and Kolar.<\/p>\n Through this agreement, HD Hyundai plans to strengthen collaboration with BEML across the entire crane manufacturing process\u2014including design, production, and quality assurance\u2014aiming to gradually build port crane manufacturing capabilities within India. Looking ahead, the company also plans to expand its business by supplying goliath and jib cranes to local shipyards in India.<\/p>\n In relation to this, HD Hyundai Samho, a shipbuilding affiliate of HD Hyundai, successfully delivered a 600-ton Goliath crane to Cochin Shipyard, India\u2019s largest state-owned shipbuilder, in February of this year. In addition, in August, HD Korea Shipbuilding & Offshore Engineering, the intermediary holding company for the shipbuilding division, announced it would acquire HD Hyundai Eco Vina from Doosan Enerbility to further reinforce HD Hyundai\u2019s ongoing expansion in the crane business.<\/p>\n An HD Hyundai official said, \u201cIndia is a market with strong growth potential, backed by the government\u2019s robust commitment to fostering the shipbuilding industry,\u201d adding, \u201cWe will continue to expand cooperation with India in the shipbuilding and offshore sectors and develop it into a new growth engine.\u201d<\/p>\n Earlier in July this year, HD Hyundai signed an MOU with Cochin Shipyard <\/a>to promote cooperation in a wide range of areas, including design and procurement support, productivity enhancement, and human capital development. More recently, the scope of this partnership has been expanded to include naval vessel projects, further strengthening HD Hyundai\u2019s presence in India.<\/p>\n The post HD Hyundai in move to establish new shipyard in Tamil Nadu, India<\/a> appeared first on Marine Log<\/a>.<\/p>\n<\/div>\n