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2 clusters · 4 sources · 6 days · First seen 9 days ago · Last updated 4 days ago

HD Hyundai shipyard project in India

Overview

South Korean shipbuilder HD Hyundai is advancing plans for a $4 billion mega shipyard in Thoothukudi, Tamil Nadu. The proposed greenfield facility, supported by a tripartite memorandum of understanding, aims for an annual capacity of approximately 2.5 million gross tonnes.

The project faces competition from the Andhra Pradesh government, which is reportedly attempting to lure the company to Kakinada by offering land, waterfront access, and incentives. This lobbying has reportedly caused uncertainty and drawn reservations from central government officials in New Delhi regarding the potential relocation of an investor who had already selected a site.

Entities

HD Hyundai · Gilberto Teodoro Jr. · Chung Ki-sun · Kakinada · HD Korea Shipbuilding & Offshore Engineering

Timeline

4 days ago

[BUSINESS] 2 sources
HD Hyundai and Philippines discuss naval and shipbuilding cooperation
HD Hyundai Chairman Chung Ki-sun and Philippine Defense Secretary Gilberto Teodoro Jr. met to discuss expanding naval modernization and shipbuilding cooperation in the Philippines.
9 days ago

[BUSINESS] 2 sources
HD Hyundai shipyard project faces competition between Tamil Nadu and Andhra Pradesh
HD Hyundai’s proposed $4 billion shipyard in Thoothukudi faces uncertainty as Andhra Pradesh attempts to lure the South Korean firm to Kakinada with competitive incentives.

Sources

indiaseatradenews.com · mbn.mk.co.kr · seoul.co.kr · thecommunemag.com