
HD Hyundai Plans New Shipyard Development in India
In early December, HD Hyundai signed a strategic partnership with the Tamil Nadu state government for the establishment of a new shipyard in India. Seeking to revitalise the local economy, the Tamil Nadu government has prioritised the development of a shipyard and expanded its efforts to provide incentives and subsidies, enhance infrastructure and secure skilled talent. As a result, the state selected HD Hyundai as its project partner for the new facility.
The Thoothukudi region of Tamil Nadu is considered an ideal location, with temperature and rainfall patterns similar to Ulsan, Korea, home of HD Hyundai Heavy Industries. The area already hosts major Korean companies including Hyundai Motor Company and Samsung Electronics, and significant investments are planned for nearby port facilities, further strengthening expectations for long-term industrial growth.
Earlier this month, HD Hyundai also signed a Memorandum of Understanding with Bharat Earth Movers Limited (BEML), a state-owned enterprise under the Indian Ministry of Defence, to collaborate on maritime and port crane development. Under the agreement, HD Hyundai will work closely with BEML across the full crane manufacturing cycle, including design, production and quality assurance, with the aim of progressively building port crane manufacturing capabilities within India.
Looking ahead, the company plans to expand its presence in the country by supplying goliath and jib cranes to shipyards across India as part of its broader strategy to strengthen its industrial footprint.
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