Archive · 28 Nov 2025
Indian firms explore shipyard JV with Korean giants
Big Indian companies like Indian Oil and Shipping Corp.
of India are talking with South Korean shipbuilding giants like HD Hyundai and Samsung Heavy Industries.
They want to build a shipyard in India, possibly in Andhra Pradesh.
This is because India needs a lot of ships to carry oil and gas.
Right now, India rents ships from other countries, but building their own ships would make them more self-sufficient.
It would also help during times of crisis, like when there's a shortage of ships.
The Indian government is supporting this idea with a big investment plan.
The goal is to make India a major player in shipbuilding, aiming to have most of their ships built in India by 2047.
Indian oil refiners and SCI are in talks with South Korean shipyards to set up a shipbuilding facility in India.
The potential shipyard may be located in Andhra Pradesh, with an investment range of ₹1,500 crore to ₹15,000 crore.
Indian refiners plan to acquire 112 ships over the next five to ten years, with an investment of ₹7.15 trillion.
The initiative aims to ensure energy security and reduce dependency on chartered foreign vessels.
The Indian government is supporting the plan with a ₹70,000 crore package for maritime sector development, aiming to increase the share of Indian-built ships to 69% by 2047.
- Who
- Shipping Corp. of India (SCI), Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd, Hindustan Petroleum Corp. Ltd, HD Hyundai, Samsung Heavy Industries, Hanwha Ocean
- What
- Talks for setting up a shipbuilding facility in India
- When
- Ongoing, with recent momentum after a delegation visit to South Korea in November
- Where
- Potential location in Andhra Pradesh, India
- Why
- To ensure energy security, reduce dependency on chartered foreign vessels, and boost India's share in global shipbuilding
- Companies Involved
- Shipping Corp. of India (SCI), Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd, Hindustan Petroleum Corp. Ltd, HD Hyundai, Samsung Heavy Industries, Hanwha Ocean
- Potential Location
- Andhra Pradesh
- Investment Range
- ₹1,500 crore to ₹15,000 crore
- Ships Required
- 112 ships over next five to 10 years
- Investment for Ships
- ₹7.15 trillion over the next five years
- Global Shipbuilding Share
- China: 50%, South Korea: 25-30%, India: <1%
- Government Initiative
- ₹70,000 crore package for maritime sector development
- Target for Indian-built Ships
- 7% by 2030, 69% by 2047