Cochin Shipyard Limited is considering a greenfield investment of about Rs 15,000 crore to establish a shipyard in Tamil Nadu in collaboration with a Korean partner, an official statement said on Tuesday.
For the project, 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, Madhu S Nair , MD & CEO of Guidance Tamil Nadu, and, Dr. Darez Ahamed were present for the signing.
In the first phase of this project, the company is aiming to create nearly 10,000 jobs—comprising 4,000 direct and 6,000 indirect opportunities—and may also include a modern ship repair facility.
CSL has signed another MoU with HD Korea (HD KSOE) for a long-term strategic collaboration in shipbuilding, aiming to combine CSL’s legacy, infrastructure, and domestic expertise with HD KSOE’s advanced technology and global experience.
Under the MoU, CSL’s 310-meter new dry dock 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 initiative, 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 Rs 3,700 crore. This project 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.
At the time of signing of MoUs, Jung Changin, Senior Vice President, Head of Global Business Management Division, Hyundai, Madhu S. Nair, CMD, Cochin Shipyard Limited were present along with Union Minister of Port, Shipping and Waterways Shri Sarbananda Sonowal and Union Minister of State Shantanu Thakur.
For the project, 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, Madhu S Nair , MD & CEO of Guidance Tamil Nadu, and, Dr. Darez Ahamed were present for the signing.
In the first phase of this project, the company is aiming to create nearly 10,000 jobs—comprising 4,000 direct and 6,000 indirect opportunities—and may also include a modern ship repair facility.
CSL has signed another MoU with HD Korea (HD KSOE) for a long-term strategic collaboration in shipbuilding, aiming to combine CSL’s legacy, infrastructure, and domestic expertise with HD KSOE’s advanced technology and global experience.
Under the MoU, CSL’s 310-meter new dry dock 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 initiative, 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 Rs 3,700 crore. This project 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.
At the time of signing of MoUs, Jung Changin, Senior Vice President, Head of Global Business Management Division, Hyundai, Madhu S. Nair, CMD, Cochin Shipyard Limited were present along with Union Minister of Port, Shipping and Waterways Shri Sarbananda Sonowal and Union Minister of State Shantanu Thakur.
You may also like
GST reforms bring happiness to buyers and sellers, says CM Manik Saha
Rs 66,500 crore deal for 97 Tejas jets, largest ever, may be inked today
Dozens of Britain's most prized pubs for beer have closed in the past year - see the full list
As the humble fish finger marked its 70th anniversary - Brits still munch through one billion a year
Princess Kate's pretty pink jumper is now half price in the Boden sale
