Cochin Shipyard Limited (CSL) has signed a Memorandum of Understanding (MoU) with HD Korea Shipbuilding & Offshore Engineering (HD KSOE) to collaborate on large vessel construction, marking a step towards India’s shipbuilding ambitions under Atmanirbhar Bharat.
The MoU was exchanged during the event “Samudra se Samriddhi – Transforming India’s Maritime Sector”, inaugurated by Prime Minister Narendra Modi on 20 September in Bhavnagar, Gujarat.
Shipbuilding at new dry dock
Under the MoU, CSL will use its 310-metre dry dock, inaugurated by the Prime Minister in January 2024, to construct vessels including Suezmax tankers, container ships and Capesize bulk carriers. The facility has the capacity to build up to six vessels annually.
To support the programme, CSL has proposed a Block Fabrication Facility in Kochi spread over 80 acres with an annual capacity of 1,20,000 MT.
The investment, estimated at ₹3,700 crore, is expected to generate about 2,000 direct jobs and additional indirect employment in related sectors such as logistics, MSMEs and supply chains.
The partnership will also cover joint shipbuilding projects at CSL’s existing facilities during the transition period, while exploring opportunities in greenfield shipyards, new business areas and skill development.
Plans in Tamil Nadu
CSL has also signed a second MoU with Guidance, the investment promotion agency of the Tamil Nadu government. The company is considering a greenfield investment of about ₹15,000 crore to set up a shipyard in Tamil Nadu in collaboration with a Korean partner.
According to CSL, the first phase of the proposed facility is projected to create nearly 10,000 jobs, including 4,000 direct and 6,000 indirect positions.
A modern ship repair facility is also part of the plan.
Both agreements are aligned with the government’s Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047, which seek to develop India as a shipbuilding hub.
Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, Union Minister of State Shantanu Thakur, Hyundai Senior Vice-President Jung Changin, and CSL Chairman and Managing Director Madhu S. Nair were present at the signing.
