Posted on September 24, 2025
Cochin Shipyard Limited (CSL) has signed a Memorandum of Understanding with HD Korea Shipbuilding & Offshore Engineering (HD KSOE) for a long-term collaboration in shipbuilding.
The MoU was exchanged on 20 September 2025 at the event “Samudra se Samriddhi – Transforming India’s Maritime Sector” in Bhavnagar, Gujarat, inaugurated by Prime Minister Narendra Modi.
The signing was attended by Union Minister of Port, Shipping and Waterways Sarbananda Sonowal, Union Minister of State Shantanu Thakur, Jung Changin, Senior Vice President and Head of Global Business Management Division at Hyundai, and Madhu S. Nair, Chairman and Managing Director of CSL.
Under the agreement, CSL’s 310-meter dry dock, inaugurated in January 2024, will be used for constructing large vessels including Suezmax tankers, container ships, and Capesize bulk carriers, with an annual capacity of up to six vessels.
To support this, CSL plans to establish a Block Fabrication Facility in Kochi on about 80 acres with an annual capacity of 1,20,000 metric tonnes and an investment of approximately ₹3,700 crore.
The initiative is expected to create about 2,000 direct jobs and additional indirect employment ranging from two to five times higher in sectors such as logistics, MSMEs, supply chain, and ancillary industries.
The collaboration will also involve joint execution of shipbuilding projects at CSL’s existing facilities during the transition period, with potential expansion into new business areas, greenfield shipyards, and skill development.
According to CSL, the initiative aligns with the Maritime India Vision 2030 and the Maritime Amrit Kaal Vision 2047.
Separately, CSL signed another MoU with Guidance, the investment promotion agency of the Government of Tamil Nadu. The company is considering a greenfield investment of about ₹15,000 crore to establish a shipyard in Tamil Nadu in collaboration with a Korean partner.
In its first phase, the project is expected to create nearly 10,000 jobs, including 4,000 direct and 6,000 indirect positions, and may also incorporate a ship repair facility.
Cochin Shipyard Limited is a public sector company under the Ministry of Ports, Shipping and Waterways of the Government of India.
HD Korea Shipbuilding & Offshore Engineering (HD KSOE) is a publicly listed company in South Korea and functions as a holding and operating company for shipbuilding subsidiaries under HD Hyundai.
