India has taken a major step towards becoming a global shipbuilding hub with the signing of a tripartite MoU to develop the country’s first Mega Greenfield Shipyard at Thoothukudi in partnership with HD Korea Shipbuilding & Offshore Engineering Co., Ltd..
The project will be developed jointly by NSHIP-TN, SIPCOT Tamil Nadu and Sagarmala Finance Corporation under the Ministry of Ports, Shipping and Waterways.
Key Highlights
- India’s first Mega Greenfield Shipyard to come up at Thoothukudi
- Partnership signed with HD Korea Shipbuilding & Offshore Engineering
- Proposed annual shipbuilding capacity of 2.5 Million Gross Tonnage (GT)
- Project aligned with Maritime Amrit Kaal Vision 2047
- Focus on digital shipbuilding and green shipping technologies
- Expected to strengthen India’s maritime manufacturing ecosystem
- Project to support workforce training and marine equipment localisation
The shipyard is expected to significantly boost India’s shipbuilding capacity, attract global investments and support the country’s goal of becoming one of the world’s top five shipbuilding nations by 2047. The initiative will also strengthen maritime infrastructure, industrial growth and employment generation in the region.
