TN’s $4bn Hyundai shipyard plan remains on course

Chennai: Amid reports that state-owned Mazagon Dock Shipbuilders is exploring the development of a shipbuilding cluster in Andhra Pradesh, Tamil Nadu's proposed shipyard project at Tuticorin appears to remain on track.The indication comes after industries minister S Keerthana visited HD Hyundai Heavy Industries' shipyard in Ulsan, South Korea, on Monday. The company expressed interest in setting up a shipyard at Tuticorin with $4 billion investment."I toured shipbuilding facilities, observed advanced production systems and held discussions on potential areas of cooperation. The proposed Thoothukudi greenfield shipyard is one of the earliest outcomes of the India-Republic of Korea maritime cooperation framework and reflects the growing strategic partnership between our two countries in the maritime sector. The project is envisaged as a mega greenfield shipyard with the capability to support large commercial vessel segments," she posted on X on Tuesday.In Dec 2025, HD Hyundai signed an agreement with the TN govt to establish the shipyard. The state committed to providing incentives and subsidies, enhancing infrastructure and ensuring availability of skilled talent, while HD Hyundai became the project partner for establishing the facility. A special purpose vehicle was then formed by V O Chidambaranar Port Authority and Sipcot to develop the greenfield shipbuilding cluster.