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HD Hyundai Says India Yard Plan Not Confirmed

HD Hyundai said reports of a KRW 3trn ($4bn) investment in a new shipyard in India’s Tamil Nadu state were not confirmed, according to a Korea Exchange filing.
Illustration, HD Hyundai advances Thoothukudi project

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HD Hyundai, South Korea’s biggest shipbuilder, said reports about a KRW 3 trillion ($4bn) investment in a new shipyard in India have not been confirmed.

The company made the statement in a regulatory filing to the Korea Exchange on Wednesday after several media outlets reported that HD Hyundai would build a shipyard in Thoothukudi in the southern Indian state of Tamil Nadu.

In the filing, HD Hyundai said those reports were being addressed, while stating that the investment plan remained unconfirmed.

The reports had said the company was preparing to develop a new shipbuilding facility in Tamil Nadu with a total investment of KRW 3 trillion ($4bn).

Editorial Note:
This article was prepared with the assistance of AI tools to enhance clarity and efficiency.
All information has been reviewed and verified by the HMT News editor.
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