Hyundai Heavy Industries plans to develop new shipyard in Thoothukudi
South Korean shipbuilding company and heavy equipment manufacturer, HD Hyundai Heavy Industries Co Ltd, has plans to set up a greenfield shipyard at Thoothukudi in Tamil Nadu. The firm has signed a memorandum of understanding (MoU) for the project that will require an investment of $ 4 billion.
This MoU was signed between HD Korea Shipbuilding & Offshore Engineering Co., Ltd (HD KSOE), the holding company of HD Hyundai Heavy Industries, the National Shipbuilding & Heavy Industries Park, Tamil Nadu (NSHIP, TN), and the Maritime Development Fund represented by Sagarmala Finance Corporation Ltd.
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