Thoothukudi Shipyard Project Advances with Six-Month DPR Target
Summary India’s proposed Thoothukudi shipyard has moved towards detailed project planning following talks between Shipping Minister Sarbananda Sonowal and HD Hyundai chairman Chung Ki-sun. A joint working group will coordinate development, while partners work…
India’s proposed Thoothukudi shipyard has moved towards detailed project planning following talks between Shipping Minister Sarbananda Sonowal and HD Hyundai chairman Chung Ki-sun. A joint working group will coordinate development, while partners work towards a joint venture structure and a detailed project report within six months. Investment arrangements remain under discussion.
The Thoothukudi shipyard project advanced during Sonowal’s meeting with Chung Ki-sun in Seoul on 28 October, with HD Korea Shipbuilding & Offshore Engineering reiterating its intention to participate as a primary strategic investor.
HD KSOE and National Shipbuilding & Heavy Industries Park, Tamil Nadu Limited will work towards an agreed ownership and implementation structure, subject to due diligence and approvals.
Sonowal referred to a proposed US$4 billion investment. Envisaged annual capacity is approximately 2.5 million gross tonnage, subject to validation.
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