HD Hyundai to provide shipbuilding tech to India's largest state-run shipyard
![An overview of Cochin Shipyard in India [HD HYUNDAI]](https://koreajoongangdaily.joins.com/data/photo/2025/07/06/cf4fa7c1-8b83-407e-9b73-cc5f96326847.jpg)
An overview of Cochin Shipyard in India [HD HYUNDAI]
HD Hyundai will provide its shipbuilding technologies to India's largest state-run shipyard, Cochin Shipyard, in a move to expand its competitiveness in the global market, the Korean company said Sunday.
HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company overseeing HD Hyundai’s shipbuilding operations, signed a comprehensive memorandum of understanding (MOU) with Cochin Shipyard, promising to establish long-term cooperation by offering its shipbuilding expertise to the new Indian partner as well as talent education programs.
Cochin Shipyard is the largest shipbuilding yard in India, owned by the Indian government with a 67.91 percent stake. The company has extensive capabilities in the design, construction, and repair of a wide range of vessels, from commercial ships to aircraft carriers, and has delivered a total of 70 vessels over the past five years, including 60 small commercial ships and 10 naval vessels.
Through the MOU, the two companies will pursue strategic cooperation across various areas, including design and procurement support for Cochin Shipyard, and jointly explore new shipbuilding orders in both the Indian and international markets.
India has been developing its maritime development road maps, including the Maritime India Vision 2030 and the Maritime Amrit Kaal Vision 2047, both announced by the Indian Ministry of Ports, Shipping and Waterways, to foster growth in the maritime industry. The country has established a Maritime Development Fund worth approximately 250 billion Indian rupees ($2.9 billion) this year to pursue its efforts.
The Indian shipbuilding and repair market has grown from $90 million in 2022 to $1.12 billion by 2024, according to market research firm Ken Research, and is expected to continue expanding at an average annual growth rate exceeding 60 percent until 2033.
“This collaboration will serve as a springboard for both HD Hyundai and CSL to reach new heights, while also marking a turning point in accelerating India’s national maritime vision,” said an HD Hyundai official. “By leveraging HD Hyundai’s accumulated technological expertise and experience, we will support Chochin Shipyard in enhancing its global competitiveness, while also seeking opportunities for shared growth with Korean equipment suppliers.”
HD Hyundai has been accelerating its outbound business endeavors. The company signed an MOU with Huntington Ingalls Industries, the largest defense shipbuilder in the United States, in April, followed by a strategic partnership agreement with Edison Chouest Offshore in June.
BY YOON SO-YEON [yoon.soyeon@joongang.co.kr]
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