On April 20, 2026, a tripartite Memorandum of Understanding (MoU) was signed to develop India’s first Mega Greenfield Shipyard at Thoothukudi, Tamil Nadu, under the India–Republic of Korea (ROK) ‘VOYAGES’ framework for maritime cooperation.
The agreement brings together HD Korea Shipbuilding & Offshore Engineering (HD KSOE), NSHIP-TN (a joint venture of the VoC Port Authority and SIPCOT), and the Sagarmala Finance Corporation Limited (SMFCL). The project was formalised during the state visit of South Korean President Lee Jae Myung.
The proposed facility is designed with an annual shipbuilding capacity of 2.5 Million Gross Tonnage (GT), representing more than half of India’s long-term target of 4.5 Million GT per annum under the Maritime Amrit Kaal Vision 2047.
The shipyard is expected to become the anchor of the broader Thoothukudi Shipbuilding Cluster, integrating shipbuilding, ancillary manufacturing, logistics, and maritime supply-chain activities. The project will also incorporate advanced South Korean shipbuilding technologies and green maritime systems.
According to the project framework, the shipyard is expected to generate approximately 15,000 direct jobs after stabilization, alongside wider indirect employment across engineering, logistics, fabrication, and industrial support sectors.
The initiative forms part of the broader ₹70,000 crore shipbuilding policy package announced in September 2025. While the Techno-Economic Feasibility Report (TEFR) has been completed, the Detailed Project Report (DPR) is currently under preparation.
Key Project Benchmarks
Annual Capacity: 2.5 Million GT
Employment Potential: Approximately 15,000 direct jobs
Strategic Target: Supports Maritime Amrit Kaal Vision 2047 shipbuilding goals
Project Structure: Partnership between Indian and South Korean entities
Industrial Ecosystem: Linked to shipbuilding clusters and ancillary manufacturing
Project Status: TEFR completed; DPR under preparation
What is a "Greenfield Shipyard"?
A Greenfield Shipyard is a facility built from scratch on undeveloped land, rather than modifying or expanding an existing shipyard (which would be a "Brownfield" project). In the context of the Thoothukudi project, a greenfield approach allows for the integration of modern "Industry 4.0" technologies, digital twins, and green manufacturing processes right from the design phase. This ensures that the shipyard is optimised for the latest international standards of efficiency and environmental sustainability, which is difficult to achieve in older, legacy yards.
Policy Relevance
Strengthens Domestic Shipbuilding Capacity: Expands India’s ability to build large commercial and industrial vessels domestically.
Supports Maritime Industrialization: Encourages growth of ancillary manufacturing and logistics ecosystems.
Enhances Strategic Maritime Partnerships: Deepens industrial cooperation between India and South Korea.
Generates Industrial Employment: Large-scale shipbuilding projects create both direct and supply-chain jobs.
Advances Maritime Vision 2047 Goals: Supports long-term plans for expanding India’s maritime manufacturing base.
Encourages Technology Transfer: South Korean participation may improve access to advanced shipbuilding practices and green maritime technologies.
Relevant Question for Policy Stakeholders: How can India ensure that large shipbuilding projects like the Thoothukudi facility generate long-term domestic manufacturing capabilities and supplier ecosystems rather than remaining dependent on imported technologies and components?
Follow the Full News Here: Landmark MoU Signed for India’s First Mega Greenfield Shipyard at Thoothukudi