HD Hyundai is advancing plans to establish its first shipyard in India. Upon completion, this shipyard will enable HD Hyundai to complete its 'Asian Shipbuilding Belt,' following its facilities in Vietnam and the Philippines.

On the 8th, HD Hyundai announced that it had signed an 'Exclusive Memorandum of Understanding for New Shipyard Construction' with the government of Tamil Nadu in Madurai, located in southern India. Tamil Nadu, where shipbuilding is considered a strategic industry, is one of the five states selected by the Indian government for new shipyard sites. The climate conditions are similar to those in Ulsan, where HD Hyundai is based, making it an optimal environment for shipbuilding.

India is aiming to become a shipbuilding and maritime powerhouse by establishing new shipyards and ports through cooperation between state governments and foreign shipbuilding companies. Given the current low level of local technology, the intention is to leverage the expertise of foreign enterprises. The local industry estimates that the investment required for this shipyard will reach approximately KRW 2.9 trillion. The extent to which HD Hyundai and others will share this cost has not yet been determined.

The shipyard is expected to be constructed in the Tuticorin area of Tamil Nadu. This region is a key hub where India's state-owned shipbuilders are already constructing shipyards. Notably, significant investments are also planned for nearby port facilities, indicating potential business expansion in the future. An HD Hyundai representative stated, "India is a place where the government is strongly committed to nurturing the shipbuilding industry," adding, "We will expand cooperation with India to establish it as a new growth driver."

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