HD Hyundai collaborates with Tamil Nadu
HD Hyundai has signed a strategic agreement with the Tamil Nadu state government to establish a new shipyard in India, aimed at enhancing the country's shipbuilding capabilities. The partnership, formalised in Madurai, will leverage Tamil Nadu's optimal climate conditions and existing infrastructure to create a facility deemed vital for regional economic revitalisation. The Thoothukudi area is identified as a prime location, with intentions for further investments in port facilities alongside the establishment of the shipyard. The agreement aligns with India's Maritime Amrit Kaal Vision 2047, which aims to position the nation among the top five shipbuilding countries globally.
Additionally, HD Hyundai has partnered with Bharat Earth Movers Limited (BEML), a state-owned enterprise, to develop port cranes for local shipyards. This collaboration encompasses the entire crane manufacturing process and aims to build local capabilities in India. With past successes like the delivery of a 600-t Goliath crane to Cochin shipyard, HD Hyundai is poised to expand its operations further. The firm recognises India as a market with substantial growth potential in the shipbuilding sector, demonstrating its commitment to deepening cooperation and fostering new developments across the industry.