Wedoany.com Report-Dec.9, HD Hyundai of South Korea has entered into a partnership agreement with the government of Tamil Nadu to develop a new $2 billion shipbuilding complex in Madurai, southern India.

The project will be located in Tamil Nadu, a state that already hosts major Korean industrial investments, including Hyundai Motor and Samsung Electronics facilities in the Thoothukudi area. Significant port infrastructure expansion is also planned nearby.

The initiative aligns with India's Maritime Amrit Kaal Vision 2047, which targets positioning the country among the world's top five shipbuilding and maritime nations through both modernisation of existing yards and construction of new greenfield facilities.

An HD Hyundai official stated: "India is a market with strong growth potential, backed by the government's robust commitment to fostering the shipbuilding industry."

This latest agreement follows a series of recent cooperation steps between HD Hyundai and Indian partners. Earlier in December 2025, the company signed a memorandum of understanding with state-owned Bharat Earth Movers Limited (BEML) in Bengaluru to jointly develop maritime and port cranes.

In July 2025, HD Hyundai concluded another MOU with Cochin Shipyard Limited covering design and procurement support, productivity improvement measures, and workforce training programmes.

The Madurai shipyard project is expected to create substantial employment opportunities and contribute to technology transfer in India's growing maritime sector. Detailed planning, including site preparation and investment phasing, will proceed under the newly established partnership framework between HD Hyundai and the Tamil Nadu authorities.