Hyundai's Rs 38,000 cr shipbuilding project in Thoothukudi discussed

A high-level Hyundai delegation met Tamil Nadu CM C Joseph Vijay to discuss a Rs 38,000 crore shipbuilding cluster in Thoothukudi. The project is expected to create 15,000 jobs. An MoU has been signed and CM Vijay assured full support.

A high-level delegation from South Korea's Hyundai Korea Shipbuilding & Offshore Engineering (HD KSOE) called on Tamil Nadu Chief Minister C Joseph Vijay on Wednesday to discuss the establishment of a mega greenfield shipbuilding cluster in Thoothukudi. The project, which involves a massive investment of approximately Rs 38,000 crore (USD 4 billion), is expected to generate around 15,000 direct employment opportunities and create a significant multiplier effect through ancillary industries and the local supply chain.

Project Framework and Key Agreements

According to an official press release, HD KSOE--one of the world's largest shipbuilders--has already signed a Memorandum of Understanding (MOU) with the Government of Tamil Nadu for establishing this state-of-the-art facility. To facilitate the project, a dedicated entity named 'National Shipbuilding & Heavy Industries Park Tamil Nadu Limited' (NSHIPTN) has been formed through a collaboration between SIPCOT and the VOC Port Authority (VOCPA). The project has already obtained first in-principle approval from the Directorate General of Shipping, Government of India.

High-Level Meeting and State's Assurance

During the meeting, the South Korean delegation, led by Young Hoon Kwon, Director of Global Business, briefed the Chief Minister on the progress made so far and reaffirmed their keen interest in grounding the project at the earliest.

Reiterating the state's commitment, Chief Minister C Joseph Vijay assured the delegation of "proactive institutional support" at every stage of the project's implementation. He emphasised that the government is dedicated to ensuring the timely establishment of this strategic project in Thoothukudi.

Key Dignitaries in Attendance

The meeting was attended by several high-ranking officials, including Minister for Industries Selvi S Keerthana, Chief Secretary M Saikumar, IAS, and Additional Chief Secretary (Industries) S Vijayakumar, IAS. Representing the industrial bodies were SA Raman, IAS (Managing Director, SIPCOT) and Deepak Jacob, IAS (Managing Director, Guidance Tamil Nadu). The Hyundai delegation also included Team Leader Sunjoon Hong and Senior Manager Hongcheol Kim, along with other senior government officials.

A Maritime Boost for Southern Tamil Nadu

The establishment of this cluster is seen as a major boost to the maritime and industrial landscape of Southern Tamil Nadu, positioning Thoothukudi as a global hub for shipbuilding and heavy industries. (ANI)

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