Cochin Shipyard, HD Korea sign pact to boost India’s shipbuilding ambitions
New Delhi, September 23. Cochin Shipyard Limited (CSL) has signed a long-term strategic partnership agreement with HD Korea Shipbuilding & Offshore Engineering (HD KSOE) to strengthen India’s shipbuilding capabilities under the ‘Atmanirbhar Bharat’ initiative.
The agreement was formalised at the event ‘Samudra se Samriddhi – Transforming India’s Maritime Sector’, inaugurated by Prime Minister Narendra Modi on September 20 in Bhavnagar, Gujarat. The signing took place in the presence of Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal, Minister of State Shantanu Thakur, Hyundai’s Senior Vice President Jung Changin, and CSL CMD Madhu S Nair, according to a statement issued by the Ministry of Ports, Shipping and Waterways on September 23.
The partnership aims to leverage CSL’s infrastructure and domestic expertise along with HD KSOE’s global experience and advanced technology. A key element of the collaboration is the use of CSL’s 310-metre dry dock, inaugurated by Prime Minister Modi in January 2024, for building large vessels such as Suezmax tankers, container ships, and Capesize bulk carriers. The facility will be capable of producing up to six ships annually.
To support this, CSL plans to develop a dedicated Block Fabrication Facility in Kochi on an 80-acre site, with an investment of about Rs. 3,700 crore. The unit will have a capacity of 1,20,000 MT per year and is expected to create around 2,000 direct jobs, alongside several thousand indirect opportunities in allied industries including logistics, MSMEs and supply chains.
Beyond new shipbuilding projects, CSL and HD KSOE will also explore greenfield shipyards, skill development initiatives, and joint execution of projects at CSL’s existing facilities. The collaboration aligns with national programmes such as the Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047, which aim to position India as a global shipbuilding hub.
In a parallel development, CSL signed another MoU with Guidance, the Tamil Nadu government’s investment promotion agency, to promote shipbuilding clusters. As part of this plan, CSL is considering a Rs. 15,000-crore greenfield investment to set up a state-of-the-art shipyard in Tamil Nadu in collaboration with a Korean partner. The first phase of the project is expected to generate around 10,000 jobs – 4,000 direct and 6,000 indirect – and may also include a modern ship repair facility.
