South Korea’s HD Hyundai has announced plans to invest $2 billion in a new shipyard in Thoothukudi, Tamil Nadu, marking one of the largest maritime investments in India. The announcement was made during the Tamil Nadu Investment Conclave 2025 by Hannah Choi, Vice-President at HD Korea Shipbuilding & Offshore Engineering (HD KSOE). The project, initially referred to as the 'SMTTH Project Shipbuilding Make in India Together with Hyundai,' aims to further industrial development in the state. This follows recent major expansions by Cochin Shipyard and Mazagon Dock Shipbuilders in Thoothukudi, which are expected to generate around 50,000 jobs. Government officials highlighted Tamil Nadu’s favorable policy environment and coastal geography as key factors in Hyundai’s decision. The shipbuilding sector is anticipated to create massive downstream activity and indirect employment, reinforcing Tamil Nadu’s position as a key industrial hub. If finalized, the shipyard could help establish Tamil Nadu as a major player in the Indo-Pacific shipbuilding industry and strengthen India’s role as a global manufacturing destination.