India, HD Hyundai advance plans for $4 billion shipyard in Tamil Nadu
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- ✓Union Minister Sarbananda Sonowal met HD Hyundai Chairman Chung Ki-sun in Seoul on Wednesday to discuss a $4 billion shipyard in Thoothukudi, Tamil Nadu.
- ✓Sonowal said, "A greenfield shipyard with USD 4 billion investment is a massive milestone, and we are completely committed to backing it." A joint group oversees progress.
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- Category
- MARKET
- Reported By
- Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Union Minister Sarbananda Sonowal engaged with HD Hyundai's Chairman in Seoul to discuss a significant shipyard project. The proposed USD 4 billion greenfield shipyard will be located in Thoothukudi, Tamil Nadu. A joint working group is tasked with overseeing the project development and establishing a joint venture structure. Once operational, the shipyard aims to enhance India's competitiveness in global maritime markets.
New Delhi: Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal on Wednesday met Chairman of HD Hyundai Chung Ki-sun in Seoul and discussed development of the proposed USD 4 billion greenfield shipyard at Thoothukudi in Tamil Nadu, according to an official statement.
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