Industries Minister S Keerthana, Industries Secretary S Vijayakumar and other officials from TIDCO, Guidance and HD Hyundai met CM Joseph Vijay on Wednesday

A high-level business delegation led by Young Hoon Kwon, Director of the Global Business Division of HD Hyundai (HD Korea Shipbuilding & Offshore Engineering – HD KSOE) on Wednesday met Tamil Nadu Chief Minister C Joseph Vijay at his office.

They discussed the implementation status of a major shipbuilding project in Thoothukudi, a statement from the State Industries Department said.

The Chief Minister assured the company that the State would undertake all necessary measures to ensure the speedy implementation of this project, and assured full administrative support and coordinated cooperation, it added. Following this, representatives from HD Hyundai announced that all efforts would be made to commence shipbuilding operations soon.

MoU signed

Headquartered in South Korea, HD Hyundai is one of the world’s largest shipbuilding companies. The company earlier last year signed a memorandum of understanding (MoU) with the government of Tamil Nadu to establish a major shipbuilding complex in Thoothukudi.

An investment of approximately ₹38,000 crore is set to be made in this new shipbuilding project in India. The project is expected to create direct employment opportunities for around 15,000 people, the statement added.

This is being facilitated through the National Shipbuilding & Heavy Industries Park Tamil Nadu Limited, a special purpose investment vehicle formed through a collaboration between SIPCOT and the VO Chidambaranar Port Authority for this project. The company has received ‘in-principle’ approval from the Directorate General of Shipping, Government of India, for the construction of this vessel.

Industries Minister S Keerthana, Industries Secretary S Vijayakumar, and other officials from TIDCO, Guidance and HD Hyundai were part of the discussions.

Published on June 17, 2026