HD Hyundai's Thoothukudi shipyard project to create 15,000 jobs

CHENNAI: In a significant development, Tamil Nadu Chief Minister C Joseph Vijay on Wednesday assured full cooperation and administrative support for the proposed shipbuilding project of HD Hyundai in Thoothukudi.

Senior officials of HD Hyundai met Chief Minister Vijay at the Secretariat and discussed the progress of the proposed project. During the meeting, Vijay assured HD Hyundai, one of the largest South Korean conglomerates, of all necessary assistance from the state government to expedite the implementation of the project and facilitate approvals at various levels. Following the meeting, company representatives expressed confidence that the project would move forward at an accelerated pace.

The proposed shipbuilding facility is being developed through a Special Purpose Vehicle (SPV), National Shipbuilding and Heavy Industries Park Tamil Nadu Limited, formed jointly by SIPCOT and the VOC Port Authority. The project recently received in-principle approval from the Directorate General of Shipping, marking a significant step towards its implementation.

The shipbuilding project is expected to attract investments of around Rs 38,000 crore and generate nearly 15,000 direct jobs, making it one of the largest industrial investments proposed in southern Tamil Nadu.

In a separate development, Industries Minister S Keerthana and senior officials showed a Memorandum of Understanding (MoU) signed between TIDCO and IN-SPACe to Chief Minister Vijay.

The agreement, signed between TIDCO and IN-SPACe, paves the way for establishing a technical facility for space vehicles at Allikulam in the Thoothukudi district. Under the MoU, IN-SPACe will provide equipment worth approximately Rs 100 crore for the proposed facility.