HHI eyes shipyard expansion in India

THOOTHUKUDI : South Korea’s HD Hyundai Heavy Industries (HHI) is exploring the idea of setting up a shipyard in India. This move is aimed at catering to the growing local demand for shipbuilding services. 

A recent visit to Tamil Nadu’s Thoothukudi and Cuddalore by HHI’s delegation signals the company’s commitment to expanding its presence in India.

Hyundai Heavy Industries’ collaboration with Indian firms

During their visit, HHI representatives held talks with L&T, which operates a large shipyard in Kattupalli. The collaboration could bring significant benefits, including technology sharing and access to HHI’s vast network of contracts with global equipment makers. This partnership could strengthen India’s shipbuilding capabilities and its position in the industry.

India’s growing shipbuilding ambitions

India’s government is determined to improve its global standing in shipbuilding. The Ministry of Ports, Shipping, and Waterways, under the leadership of MoPSW Secretary, T.K. Ramachandran, has been actively working on this goal. 

Aiming for a fleet expansion of 1,000 ships within the next decade, India hopes to cut foreign freight costs and boost trade revenues by 2047 through joint ventures with domestic and international players.

HHI’s exploration of a shipyard facility in India aligns with these national goals, paving the way for a more competitive and self-reliant Indian shipbuilding industry