Chennai, June 18:
In a major push to industrial growth, the Tamil Nadu government on Wednesday signed key MoUs worth over ₹38,000 crore, including a mega shipbuilding project and a space technology facility in Thoothukudi district, in the presence of Chief Minister M.K. Stalin.
The state inked an agreement with HD Korea Shipbuilding and Offshore Engineering (HD-KSOE), part of Hyundai Group, to establish a greenfield shipbuilding yard with an investment of ₹38,000 crore. The project is expected to generate around 15,000 jobs and boost ancillary industries and supply chains across the region.
To facilitate the project, the government has formed National Shipbuilding and Heavy Industries Park Tamil Nadu Limited (NSHIPTN) in association with SIPCOT and VOC Port Authority. The shipyard aims to support large commercial vessels and strengthen India’s long-term shipbuilding capacity, aligning with maritime cooperation between India and South Korea.
In addition, the state signed an MoU with IN-SPACe to set up a ₹100 crore Common Technical Facility (CTF) for space vehicles at the upcoming Space Manufacturing Industrial Park in Allikulam, Thoothukudi. The facility will house advanced testing and integration infrastructure for private aerospace and deep-tech industries.
The CTF will offer shared access to high-end systems such as vibration, thermal-vacuum, and EMI/EMC testing, significantly reducing costs and development time for companies. Strategically located near the Kulasekarapattinam spaceport, the park is expected to become a hub for manufacturing satellites, launch vehicle components, and other critical space hardware.
The initiatives are projected to attract significant private investments, generate high-skilled jobs, and position Tamil Nadu as a leading hub in both shipbuilding and the global space economy.