MoU Signed For India's First Mega Greenfield Shipyard In Tamil Nadu

New Delhi, May 14 (KNN) A tripartite Memorandum of Understanding (MoU) has been signed for the development of India’s first mega greenfield shipyard at Thoothukudi in Tamil Nadu, marking a major step towards strengthening the country’s shipbuilding capacity and maritime infrastructure.

The agreement was signed between HD Korea Shipbuilding & Offshore Engineering, National Shipbuilding & Heavy Industries Park Tamil Nadu Limited and Sagarmala Finance Corporation Limited under the Ministry of Ports, Shipping and Waterways.

The proposed shipyard will have an estimated annual capacity of 2.5 million gross tonnage (GT) and is expected to generate around 15,000 direct jobs after stabilisation of operations, along with substantial indirect employment opportunities across Tamil Nadu and nearby regions.

The MoU was exchanged in the presence of Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal during the state visit of Republic of Korea President Lee Jae Myung to India.

The agreement 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 following discussions between Prime Minister Narendra Modi and President Lee Jae Myung.

According to the Ministry, the Thoothukudi shipyard will serve as the anchor facility for the proposed Thoothukudi Shipbuilding Cluster being developed by NSHIP-TN. The Techno-Economic Feasibility Report for the project has already been completed, while preparation of the Detailed Project Report is currently underway.

The project has also received in-principle approval under the National Shipbuilding Mission and is expected to significantly enhance India’s shipbuilding capacity under the Maritime Amrit Kaal Vision 2047, which aims to position India among the top five shipbuilding nations globally.

The Ministry stated that the project will support the development of ancillary manufacturing clusters, localisation of marine engineering supply chains, workforce skilling initiatives and adoption of advanced digital and green shipbuilding technologies.

Speaking on the occasion, Sonowal said the partnership would bring world-class technology, innovation and green shipbuilding capabilities to India while strengthening the country’s maritime ecosystem and industrial competitiveness.

The Ministry noted that the development comes amid growing global interest in India’s shipbuilding sector following the launch of a Rs 70,000 crore shipbuilding policy package in 2025 aimed at accelerating the country’s emergence as a global shipbuilding hub.

(KNN Bureau)