MoU for India's first mega greenfield shipyard at Thoothukudi with Korea's HD KSOE; 2.5 million GT capacity
The Ports Ministry said on 13 May 2026 that HD KSOE, NSHIP-TN and Sagarmala Finance Corporation signed an MoU on 20 April 2026 for India's first mega greenfield shipyard at Thoothukudi, Tamil Nadu, with 2.5 million GT annual capacity.
Summary
A tripartite MoU for India's first mega greenfield shipyard at Thoothukudi, Tamil Nadu, was signed on 20 April 2026 by HD Korea Shipbuilding & Offshore Engineering (HD KSOE), NSHIP-TN and Sagarmala Finance Corporation Ltd, the Ports Ministry reported on 13 May 2026. NSHIP-TN is a special purpose vehicle of V.O. Chidambaranar Port Authority and SIPCOT, and the MoU was exchanged during the state visit of South Korean President Lee Jae Myung under the India–ROK 'VOYAGES' framework for shipbuilding and maritime logistics. The shipyard will have an annual capacity of 2.5 million gross tonnage and about 15,000 direct jobs, and will anchor the Thoothukudi Shipbuilding Cluster, which has in-principle approval from the National Shipbuilding Mission. India's Maritime Amrit Kaal Vision 2047 aims to make India one of the top five shipbuilding nations, with output of 4.5 million GT a year by 2047.
Key facts
- MoU
- 20 April 2026; reported 13 May 2026
- Parties
- HD KSOE; NSHIP-TN (VoC Port Authority + SIPCOT SPV); Sagarmala Finance Corporation
- Capacity
- 2.5 million GT a year; ~15,000 direct jobs
- Framework
- India–ROK 'VOYAGES', during President Lee Jae Myung's state visit
- Static
- MAKV 2047: top five shipbuilder, 4.5 million GT a year by 2047
Practice MCQs 2 questions
India's first mega greenfield shipyard at Thoothukudi is being developed with which Korean company?
Show answer
Correct answer: C — HD Korea Shipbuilding & Offshore Engineering
The tripartite MoU is between HD Korea Shipbuilding & Offshore Engineering (HD KSOE), NSHIP-TN and Sagarmala Finance Corporation Ltd.
Consider the following statements: 1. Maritime Amrit Kaal Vision 2047 aims to place India among the top five shipbuilding nations with output of 4.5 million GT per annum by 2047. 2. The proposed Thoothukudi greenfield shipyard alone has an envisaged annual capacity of 4.5 million GT. Which of the statements given above is/are correct?
Show answer
Correct answer: A — 1 only
Only 1 is correct. The Thoothukudi shipyard's envisaged annual capacity is 2.5 million GT; 4.5 million GT is the national MAKV 2047 target.