Cochin Shipyard, HD Hyundai in $500M Shipbuilding Deal

• Cochin Shipyard Limited is in talks with HD Hyundai Group for a $500 million shipbuilding JV in Kochi
• The project includes a major fabrication facility near CSL’s dry dock, creating around 2,000 jobs
• The partnership aims to boost India’s capacity to build larger, advanced vessels

Cochin Shipyard Limited (CSL) currently engages in advanced negotiations with HD Hyundai Group about establishing a $500 million shipbuilding joint venture in Kochi.

The Cochin Shipyard HD Hyundai JV marks a significant India shipbuilding investment, strengthening the HD Hyundai India partnership and boosting shipbuilding infrastructure India under the broader vision of shipbuilding growth India.

This shipyard joint venture India between HD Hyundai Group India and Cochin Shipyard investment is set to accelerate the shipbuilding industry India, enhance maritime manufacturing India, and deepen India South Korea shipbuilding cooperation through strategic maritime sector investment initiatives.

The partnership would establish a historical investment because it would become the first direct financial commitment from a global shipbuilding company to develop essential shipbuilding facilities within India. This development represents a crucial milestone for India's goal to achieve competitive status with existing maritime powers China, South Korea, and Japan.

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The proposed venture will establish an equal partnership between the parties, while HD Korea Shipbuilding and Offshore Engineering (HD KSOE) joins the venture as the shipbuilding division of the Hyundai group.

CSL’s leadership team has confirmed ongoing progress in formal discussions because they completed site visits to Kochi and are scheduled to hold additional meetings in South Korea. The agreement is expected to be completed during the second half of 2026.

The project requires an initial investment between Rs 4,500 crore and Rs 5,000 crore to create a large ship block fabrication facility at CSL's current 310-metre dry dock location in Kochi. The facility, which occupies approximately 80 acres of Cochin Port Trust land, has a production capacity of 120,000 metric tonnes per year while creating 2,000 direct jobs and generating significant indirect job opportunities.

The venture aims to create larger and more complex ships through the combination of Hyundai's advanced design and production capabilities with CSL's existing facilities. The initiative supports India's national strategy for developing its shipbuilding industry through international partnerships.