South Korea-India Partnership Anchors Mega Shipyard in Thoothukudi

A tripartite agreement has been signed between HD Korea Shipbuilding, Tamil Nadu Limited, and Sagarmala Finance Corporation to develop a greenfield shipyard in Thoothukudi, India. The project, under the India-South Korea maritime cooperation, aims to create 15,000 jobs, enhancing India's shipbuilding capacity as part of the Maritime Amrit Kaal Vision 2047.

HD Korea Shipbuilding and Offshore Engineering, National Shipbuilding and Heavy Industries Park Tamil Nadu Limited, and Sagarmala Finance Corporation have signed a landmark agreement to develop a massive shipyard in Thoothukudi, India.

The agreement, formalized during South Korea President Lee Jae Myung's visit to India, is part of a growing maritime partnership between the two countries, aiming to build a world-class shipyard with a capacity of 2.5 million gross tonnage annually.

The initiative is expected to generate 15,000 jobs and support India's goal to become one of the top five shipbuilding nations globally by 2047 under the Maritime Amrit Kaal Vision.