India’s maritime ambitions received a major push after the signing of a landmark agreement to develop the country’s first mega greenfield shipyard at Thoothukudi in Tamil Nadu. The project is expected to significantly strengthen India’s shipbuilding ecosystem and support the government’s long-term maritime manufacturing goals.
The tripartite Memorandum of Understanding (MoU) was signed between HD Korea Shipbuilding & Offshore Engineering, Sagarmala Finance Corporation Limited, and National Shipbuilding & Heavy Industries Park, Tamil Nadu Limited (NSHIP-TN).
The agreement was exchanged in the presence of Sarbananda Sonowal during the India visit of South Korean President Lee Jae Myung.
The proposed shipyard will be developed under the India-Republic of Korea maritime cooperation framework called VOYAGES. Officials said the facility is expected to have an annual shipbuilding capacity of 2.5 million Gross Tonnage (GT), making it one of the largest maritime infrastructure projects in India.
The project is also expected to generate nearly 15,000 direct jobs after stabilisation, along with substantial indirect employment opportunities across Tamil Nadu and nearby regions.
Authorities stated that the shipyard will act as the anchor unit for the larger Thoothukudi Shipbuilding Cluster currently being planned by NSHIP-TN. While the Techno-Economic Feasibility Report has already been completed, work on the Detailed Project Report is now underway.
The development forms part of India’s Maritime Amrit Kaal Vision 2047, under which the government aims to position India among the world’s top five shipbuilding nations.
India has set a target of achieving 4.5 million GT of annual shipbuilding output by 2047, and the Thoothukudi facility alone is expected to contribute more than half of that capacity.
The Ministry of Ports, Shipping and Waterways said the project will also support ancillary manufacturing, marine equipment localisation, workforce training, and adoption of advanced green shipbuilding technologies.
The project follows the Centre’s ₹70,000 crore shipbuilding policy package announced in 2025 to strengthen domestic maritime manufacturing and attract global investments.
Indian shipyards have also started receiving more international orders, including contracts secured by Cochin Shipyard Limited and Swan Defence and Heavy Industries Limited.
The Thoothukudi mega shipyard project marks a significant milestone in India’s maritime growth strategy. With South Korean technology support, large-scale manufacturing capacity, and strong policy backing, the project is expected to accelerate India’s emergence as a global shipbuilding and maritime infrastructure hub over the coming decades.
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Published on: May 14, 2026, 3:14 PM IST
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