India’s First Mega Greenfield Shipyard to Come Up at Thoothukudi Under India–Korea Partnership
Tripartite MoU signed for 2.5 million GT capacity shipyard; project expected to generate 15,000 direct jobs
The agreement was signed on April 20, 2026, in the presence of Sarbananda Sonowal during the state visit of Republic of Korea President Lee Jae Myung to India.
New Delhi: India’s first mega Greenfield shipyard will be developed at Thoothukudi following the signing of a tripartite memorandum of understanding (MoU) between HD Korea Shipbuilding & Offshore Engineering Co Ltd (HD KSOE), National Shipbuilding & Heavy Industries Park, Tamil Nadu Limited (NSHIP-TN) and Sagarmala Finance Corporation Limited (SMFCL).
The agreement was signed on April 20, 2026, in the presence of Sarbananda Sonowal during the state visit of Republic of Korea President Lee Jae Myung to India.
The proposed shipyard project forms part of the India–Republic of Korea maritime cooperation framework titled “VOYAGES” — Shared Vision for Operation of Yard Assisted Growth with Efficiency and Scale — launched after discussions between Prime Minister Narendra Modi and President Lee Jae Myung.
According to the ministry of ports, shipping and waterways, the Thoothukudi shipyard will have an envisaged annual capacity of 2.5 million Gross Tonnage (GT), making it one of the largest shipbuilding facilities in the country. The project is expected to generate around 15,000 direct jobs besides creating significant indirect employment opportunities across Tamil Nadu and surrounding regions.
The Greenfield facility will serve as the anchor unit of the larger Thoothukudi Shipbuilding Cluster being developed by NSHIP-TN, a special purpose vehicle jointly promoted by V.O. Chidambaranar Port Authority and SIPCOT Tamil Nadu.
Officials said the Techno-Economic Feasibility Report (TEFR) for the project has already been completed, while preparation of the Detailed Project Report (DPR) is currently underway. The proposed cluster has also received in-principle approval under the National Shipbuilding Mission of the Government of India.
Key Boost to Maritime Amrit Kaal Vision 2047
The project is expected to play a major role in achieving India’s Maritime Amrit Kaal Vision 2047, which aims to position India among the world’s top five shipbuilding nations with a targeted shipbuilding capacity of 4.5 million GT annually by 2047.
The ministry said the Thoothukudi shipyard would also help create a broader maritime industrial ecosystem through:
- ancillary manufacturing clusters
- localisation of marine equipment supply chains
- workforce skilling initiatives
- adoption of digital shipbuilding technologies
- promotion of green shipping solutions
The collaboration may additionally facilitate training opportunities for Indian shipbuilding professionals at HD KSOE facilities in South Korea.
The development follows the Government of India’s ₹70,000 crore shipbuilding policy package launched in September 2025 to strengthen India’s position as a globally competitive shipbuilding hub.
The ministry noted that Indian shipyards have since witnessed increasing global interest, including international vessel orders secured by Cochin Shipyard Limited and Swan Defence and Heavy Industries Limited.
Speaking on the occasion, Sarbananda Sonowal said the project marked a defining moment in India’s efforts to emerge as a global maritime power and would bring world-class technology, innovation and green shipbuilding capabilities to the country.
