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Date: 20/05/2025

Mega shipbuilding hub likely at Thoothukudi with Rs 10,000 cr. CSL-Hyundai project

India has identified land parcels in Andhra Pradesh, Tamil Nadu and Gujarat for the development of Mega Shipbuilding facilities, with CSL and HD Hyundai currently finalising the location for this ambitious shipbuilding facility. Thoothukudi (Tuticorin) in Tamil Nadu is emerging as the likely site for this mega infrastructure project, which is expected to attract an investment of around Rs 10,000 crore upon completion. Progress aligns with the Indian government’s broader strategy, supported by key financial mechanisms. The Finance Ministry’s Expenditure Finance Committee (EFC) is close to completing appraisals for an enhanced shipbuilding financial assistance policy valued at Rs 18,090 crore, alongside a maritime development fund of Rs 25,000 crore, both announced in the Budget 2025-26. Companies from the Netherlands, France and the Middle East have expressed interest in setting up manufacturing facilities in India, as per a report.
 
Source: Exim News Service: Tuticorin, May 19 



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