Guwahati: Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal met HD Hyundai Chairman Chung Ki-sun in Seoul on Wednesday to discuss the proposed $4-billion greenfield shipyard at Thoothukudi in Tamil Nadu, with both sides agreeing to accelerate project development.
The meeting took place during Sonowal’s four-day visit to South Korea, aimed at strengthening bilateral cooperation in shipbuilding, shipping and the wider maritime sector.
HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the shipbuilding arm of HD Hyundai, reiterated its intention to participate as a primary strategic investor in the proposed project. The two sides also agreed to work towards finalising a joint venture structure, while a joint working group will oversee project development and coordination.
The Detailed Project Report (DPR) is expected to be finalised within six months and will cover the proposed shipyard’s vessel product mix, production capacity, infrastructure requirements, project costs and implementation schedule.
Sonowal said the discussions were aimed at translating the shared vision for the project into concrete progress, referring to the commitment expressed by HD Hyundai to Prime Minister Narendra Modi regarding India’s role in the company’s global plans.
“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 $4 billion investment is a massive milestone, and we are completely committed to backing it,” Sonowal said.
He also acknowledged the work undertaken by HD Hyundai’s team during the site assessment and its coordination with the Central and Tamil Nadu governments.
The proposed shipyard builds on the India–Republic of Korea Comprehensive Framework for Partnership in Shipbuilding, Shipping and Maritime Logistics adopted in April 2026. A memorandum of understanding was signed on April 20 between HD KSOE and National Shipbuilding & Heavy Industries Park, Tamil Nadu Limited (NSHIP-TN), on the sidelines of South Korean President Lee Jae Myung’s visit to India.
Under the proposal, the shipyard is envisaged to have an annual shipbuilding capacity of approximately 2.5 million gross tonnage (GT), subject to validation through the DPR. Once operational, it is expected to become India’s largest commercial shipyard and strengthen the country’s domestic shipbuilding capacity and competitiveness in the global maritime industry.
HD KSOE is expected to contribute its expertise in shipyard design, construction, advanced manufacturing and operations. Discussions on investment structure, equity participation and implementation arrangements will continue, subject to due diligence and the necessary approvals.
NSHIP-TN, meanwhile, will facilitate the availability of suitable waterfront land, enabling infrastructure and utilities, and coordinate with the relevant authorities for statutory approvals. Preparatory work, including site assessments, infrastructure planning and preliminary dredging and reclamation studies, will also be advanced to support project readiness.
Highlighting the potential domestic demand for vessels, Sonowal said Indian public agencies were looking to acquire more than 400 vessels in the coming years. He expressed hope that the proposed facility would cater to part of this demand while also pursuing export orders.
“We look forward to HD KSOE deepening its footprint in India through strategic partnerships, technology collaboration and localised manufacturing, thereby contributing to India’s emergence as a global shipbuilding hub,” he said.
Beyond infrastructure and manufacturing, the partnership is expected to explore technology transfer, technical training, knowledge exchange and collaboration with Indian industries and academic institutions. These efforts are intended to strengthen domestic shipbuilding capabilities and create skilled employment opportunities.
In his closing remarks, Sonowal described the proposed shipyard as an important component of the broader India–South Korea relationship, combining South Korea’s shipbuilding expertise with India’s industrial capabilities and market potential.
The Thoothukudi project is envisaged as a flagship initiative under the India–Republic of Korea Special Strategic Partnership, supporting India’s long-term ambitions to expand its shipbuilding industry and strengthen its position in the global maritime sector.