- A tripartite Memorandum of Understanding (MoU) has been signed for the development of India’s first mega greenfield shipyard at Thoothukudi in Tamil Nadu.
- The agreement was signed between HD Korea Shipbuilding & Offshore Engineering (HD KSOE), National Shipbuilding & Heavy Industries Park, Tamil Nadu Limited (NSHIP-TN), and Sagarmala Finance Corporation Limited (SMFCL).
- The project marks one of the first major outcomes under the India–Republic of Korea maritime cooperation framework titled “VOYAGES”.
- The proposed shipyard will be developed at Thoothukudi and is expected to have an annual shipbuilding capacity of 2.5 million Gross Tonnage (GT).
- The facility will become a major hub for commercial shipbuilding and significantly enhance India’s maritime manufacturing capabilities.
Strategic Partnership Under ‘VOYAGES’ Framework
- The MoU was exchanged during the state visit of Republic of Korea President Lee Jae Myung to India in April 2026.
- The partnership is part of the India-ROK maritime cooperation initiative called “VOYAGES” — Shared Vision for Operation of Yard Assisted Growth with Efficiency and Scale.
- The framework was launched following discussions between Prime Minister Narendra Modi and President Lee Jae Myung to strengthen cooperation in shipbuilding, shipping, and maritime logistics.
Key Features of the Project
The Thoothukudi Greenfield Shipyard will serve as the anchor facility of the larger Thoothukudi Shipbuilding Cluster being developed by NSHIP-TN.
Key highlights include:
- Annual shipbuilding capacity of 2.5 Million GT
- Advanced digital and green shipbuilding technologies
- Development of ancillary manufacturing clusters
- Localisation of marine equipment supply chains
- Workforce training and skill development initiatives
- Potential training of Indian professionals in South Korea
The Techno-Economic Feasibility Report (TEFR) has already been completed, while the Detailed Project Report (DPR) is currently under preparation.
Major Push Under Maritime Amrit Kaal Vision 2047
- The project aligns with India’s Maritime Amrit Kaal Vision 2047, which aims to make India one of the world’s top five shipbuilding nations by 2047.
- India has set a target of achieving shipbuilding output of 4.5 million GT annually by 2047, and the Thoothukudi facility alone is expected to contribute significantly toward this goal.
- The government believes the project will strengthen India’s strategic maritime infrastructure while reducing dependence on foreign shipyards.
Government’s ₹70,000 Crore Shipbuilding Push
The development comes after the Government of India launched a comprehensive shipbuilding policy package worth around ₹70,000 crore in September 2025.
The policy aims to:
- Promote indigenous shipbuilding
- Encourage green shipping technologies
- Attract global investments
- Improve export competitiveness
- Expand maritime industrial infrastructure
Since the launch of the policy, Indian shipyards have reportedly witnessed growing international interest and fresh global orders.