India has taken a major step toward strengthening its maritime manufacturing capabilities with the signing of a tripartite Memorandum of Understanding (MoU) for the development of the country’s first mega greenfield shipyard at Thoothukudi.

The agreement was signed between HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (HD KSOE), National Shipbuilding & Heavy Industries Park Tamil Nadu Limited (NSHIP-TN), and Sagarmala Finance Corporation Limited under the Ministry of Ports, Shipping and Waterways. The MoU was exchanged during the state visit of South Korean President Lee Jae Myung to India.

The proposed facility is expected to have an annual shipbuilding capacity of 2.5 million gross tonnage (GT) and generate around 15,000 direct jobs once operations stabilise, along with substantial indirect employment opportunities across Tamil Nadu.

The project is part of the India–Republic of Korea maritime cooperation framework “VOYAGES” aimed at strengthening collaboration in shipbuilding, shipping and maritime logistics. It will serve as the anchor facility for the proposed Thoothukudi Shipbuilding Cluster being developed by NSHIP-TN.

According to the government, the project aligns with India’s Maritime Amrit Kaal Vision 2047, which aims to place India among the world’s top five shipbuilding nations with a target output of 4.5 million GT annually by 2047. The Thoothukudi facility alone is expected to contribute significantly toward that target.

The shipyard project is also expected to boost ancillary manufacturing, localisation of marine equipment supply chains, workforce skilling and adoption of advanced digital and green shipbuilding technologies. Indian professionals and workers may also receive training at HD KSOE facilities in South Korea.

Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal described the agreement as a defining milestone in India’s journey toward becoming a global maritime power, stating that the partnership would bring world-class technology, innovation and green shipbuilding capabilities to the country.