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Photo = Yonhap news |
[Alpha Biz= Paul Lee] SEOUL, July 6, 2025 — HD Hyundai is expanding its presence in the Indian shipbuilding market and strengthening its global influence through a new strategic partnership with India's largest state-owned shipyard.
HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company for HD Hyundai’s shipbuilding businesses, announced today that it has signed a comprehensive Memorandum of Understanding (MOU) with Cochin Shipyard Limited (CSL), India’s largest state-run shipbuilder.
Located in the southern state of Kerala, CSL is majority-owned by the Indian government (67.91%) and is equipped with capabilities to design, build, and repair a wide range of vessels — from commercial ships to aircraft carriers. Over the past five years, CSL has successfully delivered 70 vessels, including 60 small commercial ships and 10 naval vessels.
Under the MOU, the two companies will cooperate in various strategic areas, including:
Engineering and procurement support for CSL,
Technology collaboration to improve productivity and meet global quality standards,
Capacity building through enhanced training and education systems.
HD KSOE and CSL also plan to jointly pursue shipbuilding orders in both the Indian and global markets.
This partnership aligns with the Indian government's maritime development roadmaps, including the "Maritime India Vision 2030" and "Amrit Kaal Vision 2047." As part of these initiatives, the Indian government is investing approximately INR 250 billion (KRW 4 trillion) to advance its shipbuilding industry and marine infrastructure.
The Indian shipbuilding and repair market, valued at around USD 90 million in 2022, is expected to grow at an annual rate exceeding 60% through 2033.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
