HD KSOE executives discuss ₹38,000-crore shipyard project with Tamil Nadu CM
Senior executives from HD Korea Shipbuilding and Offshore Engineering (HD KSOE), a leading South Korean shipbuilder, led by Young Hoon Kwon, Director of Global Business Division, met Tamil Nadu Chief Minister C. Joseph Vijay at the Secretariat in Chennai on Wednesday, June 17, 2026. They discussed the proposed establishment of a mega greenfield shipyard in Thoothukudi, entailing an investment of about ₹38,000 crore and the potential to create 15,000 jobs.
The project is being promoted by the National Shipbuilding and Heavy Industries Park Tamil Nadu Limited (NSHIPTN), a special purpose vehicle jointly set up by the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) and the V.O. Chidambaranar Port Authority (VOCPA). NSHIPTN has already obtained in-principle approval from the Directorate General of Shipping, marking a significant step forward. The proposed shipyard is part of a broader vision to develop a shipbuilding and heavy industries cluster, leveraging Thoothukudi's deep-draft port and strategic maritime location.
During the meeting, the Chief Minister assured the delegation that the Tamil Nadu government would extend all necessary support to ensure the project's swift implementation. He committed to providing administrative backing at every stage, reflecting the state's proactive approach to attracting large-scale industrial investments. The engagement with a global shipbuilding major highlights Tamil Nadu's competitive advantages in infrastructure, skilled workforce, and business-friendly policies.
Industries Minister S. Keerthana, Chief Secretary M. Saikumar, Additional Chief Secretary (Industries, Investment Promotion and Commerce) S. Vijayakumar, TIDCO Chairman and Managing Director D. Karthikeyan, SIPCOT Managing Director C.A. Raman, and other senior officials were present.
In a separate development, Minister Keerthana also apprised the Chief Minister of an agreement signed between the Tamil Nadu government and the Indian National Space Promotion and Authorisation Centre (IN-SPACe) to set up a Common Technical Facility Centre for Space Vehicles at the Allikulam SIPCOT Industrial Park in Thoothukudi district. The pact was formalised on June 11, 2026, during the 10th IN-SPACe Industry Connect in Ahmedabad. TIDCO's D. Karthikeyan signed on behalf of the state, while Anupam Anand, Joint Secretary of IN-SPACe, signed for the central agency.
Under the agreement, IN-SPACe will provide equipment worth ₹100 crore, and the state government will offer land and develop necessary infrastructure. The facility, planned near the upcoming Kulasekarapattinam spaceport, is expected to evolve into a major manufacturing centre for launch vehicle components, satellite systems, propulsion units, avionics, composite structures, and other critical space technologies. This initiative aligns with India's efforts to expand its space industrial ecosystem and reduce import dependence. It is projected to attract private sector investment, create high-technology jobs, strengthen domestic manufacturing capabilities, and spur innovation in the space domain.
The twin announcements underscore Tamil Nadu's aggressive push to attract transformative investments, with Thoothukudi emerging as a focal point for both maritime and aerospace manufacturing. The state government's facilitation efforts are aimed at making these projects operational in a time-bound manner.
