HD Hyundai Heavy Industries looks to build shipyard in India; scouting for locations and tie-ups
HD Hyundai Heavy Industries (HHI) is looking to set up a shipyard in India and has already made a visit this month to scout for potential sites, people aware of the developments told ET.
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«HD Hyundai Heavy Industries came down to India earlier this month to assess possible sites for a shipbuilding facility,» one person cited above said. «They have a shipyard in South Korea and are now very keen to build one in India to cater to the local demand.»
The company, which is among the world's largest shipbuilders and commands around 10% of the market share as per their website, had a delegation visit Thoothukudi and Cuddalore in Tamil Nadu and met executives at L&T to explore a tie-up, sources added. L&T has a mega shipyard in Kattupalli for shipbuilding as well as retrofitting and conversions.
Not just Tamil Nadu, the company is also in talks with other strong port states.
«The competition between states is very intense now,» another person said. «It is not just in talks with Tamil Nadu but also Andhra Pradesh and Maharashtra, who are also courting the company aggressively.»
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