Maritime Amrit Kaal Vision 2047: India Signs MoU for First Mega Greenfield Shipyard in Tamil Nadu

Key facts

• A tripartite Memorandum of Understanding (MoU) was signed on April 20 between HD Korea Shipbuilding & Offshore Engineering (HD KSOE), National Shipbuilding & Heavy Industries Park, Tamil Nadu Limited (NSHIP-TN), and Sagarmala Finance Corporation Limited (SMFCL) under the Ministry of Ports, Shipping and Waterways (MoPSW).
• The agreement facilitates the development of India's first mega greenfield shipyard at Thoothukudi in Tamil Nadu, which is expected to have an annual shipbuilding capacity of 2.5 million Gross Tonnage (GT).
• The project is launched under the India-Republic of Korea maritime cooperation framework VOYAGES (Shared Vision for Operation of Yard Assisted Growth with Efficiency and Scale) following talks between the two nations.
• The initiative aligns with the Maritime Amrit Kaal Vision 2047, which aims to place India among the world's top five shipbuilding nations with a targeted annual output of 4.5 million GT by 2047.
• The MoPSW noted that the project follows a comprehensive ₹70,000 crore shipbuilding policy package announced by the Centre in September 2025 to strengthen maritime manufacturing capabilities.