In a landmark move designed to propel India towards global shipbuilding leadership, Cochin Shipyard Limited (CSL) has signed a strategic agreement with HD Korea Shipbuilding & Offshore Engineering (HD KSOE).
The partnership, announced on the sidelines of the “Samudra se Samriddhi” event in Gujarat, aims to blend CSL’s domestic infrastructure and expertise with HD KSOE’s advanced technology and global market access.
The collaboration is a key pillar in India’s ambitious Maritime India Vision (MIV) 2030 and Maritime Amrit Kaal Vision (MAKV) 2047, which seek to position the country as a major global shipbuilding and repair hub.
The agreement outlines the joint construction of large and next-generation vessels, including Suezmax tankers and Capesize bulk carriers, leveraging CSL’s new 310-metre dry dock in Kochi.
This facility, inaugurated in January 2024, can build up to six such vessels annually. The partnership also involves knowledge sharing, workforce upskilling, and exploring new business areas.
CSL is supporting this expansion with investments, including approximately ₹3,700 crore for a new Block Fabrication Facility in Kochi. This facility is expected to create around 2,000 direct jobs. CSL is also considering a significant greenfield investment in Tamil Nadu, potentially with HD KSOE, to establish a new shipyard.
This collaboration aligns with India’s Atmanirbhar Bharat initiative. Partnering with HD KSOE, a subsidiary of HD Hyundai, provides access to advanced technology, enhancing efficiency and competitiveness.
For HD KSOE, it offers entry into India’s growing maritime market, supported by government policies.
Analysts believe the deal will help CSL enter the higher-value segment of commercial vessel construction.
The combination of technological expertise and increased production capacity is expected to strengthen CSL’s global standing and boost India’s share in the global shipbuilding market.
The partnership represents a significant step for Indian shipbuilding, aiming for global competitiveness and technological advancement in line with national maritime goals.
Also Read: Apple Enters India’s Top 5 as Smartphone Market Grows 2% in H1 2025