Thoothukudi Mega Shipyard: Tripartite MoU Under India-Korea VOYAGES
Why in the news
A three-party agreement was concluded while South Korean President Lee Jae Myung was visiting India. It paves the way for a large new shipbuilding yard in Tamil Nadu.
Signatories
| Party | Role |
|---|---|
| Ministry of Ports, Shipping and Waterways | Government of India side |
| HD Korea Shipbuilding & Offshore Engineering | Korean partner |
| National Shipbuilding & Heavy Industries Park Tamil Nadu Limited | Tamil Nadu industrial park company |
| Sagarmala Finance Corporation | Finance arm |
Key facts
- Project type: mega greenfield shipyard, described as the first in India.
- Location: Thoothukudi, Tamil Nadu.
- Framework: VOYAGES (India-Republic of Korea).
- Occasion: the Korean President’s visit to India.
Exam angle
- Ministry involved: Ports, Shipping and Waterways.
- Site to remember: Thoothukudi.
- Framework name to remember: VOYAGES.