Press Information Bureau

Cochin Shipyard Limited (CSL) moves towards the Atmanirbhar Bharat and has signed a Memorandum of Understanding (MoU) with HD Korea Shipbuilding & Offshore Engineering (HD KSOE) for a long-term strategic collaboration in shipbuilding. The MoU was exchanged during the landmark event “Samudra se Samriddhi – Transforming India’s Maritime Sector”, inaugurated by the Hon’ble Prime Minister Shri Narendra Modi on Saturday, 20th September 2025, at Bhavnagar, Gujarat.

At the time of signing both MoUs, Union Minister of Port, Shipping and Waterways Shri Sarbananda Sonowal and Union Minister of State Shri Shantanu Thakur were present. Also present were Jung Changin, Senior Vice President, Head of Global Business Management Division, Hyundai, and Shri Madhu S. Nair, CMD, Cochin Shipyard Limited.

This partnership seeks to combine CSL’s legacy, infrastructure, and domestic expertise with HD KSOE’s advanced technology and global experience, marking a significant step in strengthening India’s shipbuilding capabilities. Under the MoU, CSL’s  310-meter new dry dock which was inaugurated by Hon’ble Prime Minister of India on 17^th Jan 2024 will be utilized to construct large vessels such as Suezmax tankers, container ships, and Capesize bulk carriers, with a capacity of up to six vessels annually.

To support this, a dedicated Block Fabrication Facility (BFF) is planned at Kochi in approximately 80 acres, with an annual capacity of 1,20,000 MT, involving an investment of about ₹3,700 crore. The details of the proposed facility and layout was presented at the event. This initiative is expected to generate around 2,000 direct jobs and substantial indirect employment estimated at 2 to 5 times higher in sectors such as logistics, MSMEs, supply chain, and ancillary industries.

The collaboration will also focus on joint execution of shipbuilding projects at CSL’s existing facilities during the transition phase, while simultaneously exploring opportunities in new business areas, greenfield shipyards, and skill development. By enhancing production efficiency and delivering next-generation vessels, the partnership is aligned with national initiatives like Maritime India Vision (MIV) 2030 and Maritime Amrit Kaal Vision (MAKV) 2047, reinforcing the mission to position India as a global shipbuilding hub.

Additionally, CSL signed a second MoU with Guidance, the nodal agency of the Government of Tamil Nadu, in line with the Government of India’s vision for developing shipbuilding clusters. CMD of CSL, Shri Madhu S Nair , MD & CEO of Guidance Tamil Nadu, and, Dr. Darez Ahamed were present for the signing. As part of its long-term growth strategy, CSL is considering a greenfield investment of about ₹15,000 crore to establish a state-of-the-art shipyard in Tamil Nadu in collaboration with a Korean partner. In its first phase, the project is projected to create nearly 10,000 jobs—comprising 4,000 direct and 6,000 indirect opportunities—and may also include a modern ship repair facility.

 

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SR/GDH/HK

(Release ID: 2170036)