Hd Hyundai of South Korea has signed a cooperation agreement with the Tamil Nadu government, planning to invest 2 billion US dollars to build a large shipyard in the Madurai area of the state.
The Tuticorin area of Tamil Nadu has attracted large South Korean companies such as Hyundai Motor and Samsung Electronics, and large-scale investments are also planned for port facilities in the surrounding areas.
The Indian government is promoting the "Maritime Amrit Kaal Vision 2047", aiming to become one of the world's top five shipbuilding and shipping countries. To achieve this vision, the Indian government is not only actively reviewing expansion plans for existing shipyards but also promoting the construction of new facilities.
A representative of HD Hyundai said, "India is a market with strong growth potential, supported by the Indian government's firm commitment to supporting the shipbuilding industry."
Earlier this month, HD Hyundai also signed a memorandum of understanding with Bharat Earth Movers Limited (BEML), a state-owned enterprise under the Indian Ministry of Defence, in Bangalore, southern India, to cooperate in the development of maritime and port cranes in India.
In July this year, HD Hyundai had signed a memorandum of understanding with Cochin Shipyard, planning to promote cooperation in areas such as design and procurement support, productivity improvement, and human capital development.
Original: toutiao.com/article/7581692417519206918/
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