HD Hyundai picks Thoothukudi for mega shipbuilding cluster

HD Hyundai, one of the world's largest shipbuilders, has chosen Thoothukudi in Tamil Nadu as the site for a proposed mega shipyard, marking a major endorsement of the state's industrial and maritime strategy.

- EXPRESS NEWS SERVICE @ Chennai

(FILE PHOTO)

The Memorandum of Understanding to this effect was signed in the presence of Chief Minister M K Stalin, Industries Minister T R B Rajaa and senior executives from HD Korea Shipbuilding and Offshore Engineering at the TN Rising conclave in Madurai on Sunday.

For TN, the project bolsters a long-running effort to position itself as a hub for high-value maritime manufacturing, at a time when India is seeking to expand its domestic shipbuilding capacity.

"This decision reflects the confidence global industry leaders place in TN's vision, stability and economic strength," said a statement from Rajaa's office, adding that the state had identified viable coastal sites early on and backed them with infrastructure, talent and incentives.