Madurai: HD Hyundai’s proposed mega shipyard at Thoothukudi has moved into detailed project preparation, with feasibility work beginning at the site and Tamil Nadu transferring around 1,700 acres for the first phase.
Earlier estimates have placed the proposed investment at around $4 billion, or roughly Rs 38,000 crore.
VO Chidambaranar Port Authority has issued work order for a detailed feasibility report in consultation with HD Korea Shipbuilding & Offshore Engineering (HD KSOE), and inception work has begun, the state govt said Thursday. The company told the minister Wednesday that it was proceeding with the Thoothukudi project, according to an official release. A Request for Proposal (RFP) has also been floated to appoint global consultants for preparing the detailed project report. The delegation held discussions with Industries minister S Keerthana and officials on incentives, the DPR and implementation timelines. HD Hyundai executives had met chief minister C Joseph Vijay in June as the state sought to accelerate the project.