A memorandum of understanding has been signed to establish India’s inaugural mega greenfield shipyard in Thoothukudi, with a capacity of 2.5 million gross tonnage (GT) and an expected creation of about 15,000 direct jobs. The agreement involves HD Korea Shipbuilding & Offshore Engineering (HD KSOE), National Shipbuilding & Heavy Industries Park, Tamil Nadu (NSHIP-TN), and Sagarmala Finance Corporation Ltd. This initiative aims to develop, finance, construct, and operate a world-class shipyard in Thoothukudi.
The project anticipates generating 15,000 direct jobs once operations stabilize, along with significant indirect employment opportunities in Tamil Nadu and the neighboring areas. The Thoothukudi Greenfield Shipyard represents an early achievement under the India-ROK maritime cooperation framework, highlighting the strengthening strategic partnership between the two nations in the maritime sector. Additionally, besides enhancing shipbuilding capacity, the endeavor is set to boost the creation of a comprehensive maritime industrial ecosystem.
NSHIP, a Special Purpose Vehicle jointly promoted by V.O. Chidambaranar Port Authority (VoCPA) and State Industries Promotion Corporation of Tamil Nadu (SIPCOT), is overseeing the project. Sagarmala Finance Corporation Limited, operating under the Ministry of Ports, Shipping, and Waterways (MoPSW), is also involved in the collaboration. Furthermore, the partnership is expected to facilitate the training of Indian shipbuilding professionals and workers at HD KSOE’s facilities in the Republic of Korea.
The proposed shipyard will act as the central facility of the Thoothukudi Shipbuilding Cluster, part of the ongoing development by NSHIP-TN. While the Techno-Economic Feasibility Report (TEFR) for the project has been finalized, the Detailed Project Report (DPR) preparation is currently in progress, according to the statement.
