Cochin Shipyard Limited (CSL) has signed a Memorandum of Understanding (MoU) with HD Korea Shipbuilding & Offshore Engineering (HD KSOE) to establish 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 20 September 2025 at Bhavnagar, Gujarat. Union Ministers Shri Sarbananda Sonowal and Shri Shantanu Thakur, along with Jung Changin, Senior Vice President of Hyundai, and Shri Madhu S Nair, CMD of CSL, were present.

The partnership will combine CSL’s legacy, infrastructure, and domestic expertise with HD KSOE’s advanced technology and global experience. CSL’s 310-metre new dry dock, inaugurated by the Prime Minister on 17 January 2024, will be used 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 expansion, a dedicated Block Fabrication Facility (BFF) is planned at Kochi on approximately 80 acres, with an annual capacity of 120,000 tonnes and an investment of around Rs 37 billion. The facility is expected to generate approximately 2,000 direct jobs and substantial indirect employment, estimated at two to five times higher in 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 exploring new business opportunities, greenfield shipyards, and skill development initiatives. By enhancing production efficiency and delivering next-generation vessels, the partnership aligns with national initiatives such as Maritime India Vision (MIV) 2030 and Maritime Amrit Kaal Vision (MAKV) 2047, reinforcing India’s ambition to become a global shipbuilding hub.

In addition, CSL signed a second MoU with Guidance, the nodal agency of the Government of Tamil Nadu, supporting the development of shipbuilding clusters in line with the Government of India’s vision. As part of its long-term growth strategy, CSL is considering a greenfield investment of approximately Rs 150 billion to establish a state-of-the-art shipyard in Tamil Nadu in collaboration with a Korean partner. The first phase of the project is projected to create nearly 10,000 jobs—4,000 direct and 6,000 indirect—and may include a modern ship repair facility.