Hyundai shipbuilding arm to set up marine engineering hub

Metro India News | Amaravati

Andhra Pradesh IT Minister Nara Lokesh on Friday met the leadership of HD Korea Shipbuilding & Offshore Engineering (HD KOSE) in Seoul and invited the company to establish a world-class shipbuilding and marine engineering facility in the state.

On the sixth day of his South Korea tour, the Minister showcased Andhra Pradesh's maritime strengths, including its nearly 1,000-km coastline, strategic location on India's east coast, operational and upcoming deep-water ports, world-class logistics infrastructure, competitive industrial ecosystem and investor-friendly policies.

"Lokesh met Kwon Younghoon, Global Business Director, HD KOSE, and Hong Sunjoon, Team Leader, in Seoul and invited the company to explore investment opportunities in Andhra Pradesh's maritime and shipbuilding sector," said an official press release.

Highlighting the state's "Speed of Doing Business" philosophy, he said Andhra Pradesh has built a governance model that enables investors to establish projects quickly through fast approvals, proactive facilitation and seamless coordination across government departments.

Citing the successful experience of Korean companies such as Kia Motors, its supplier ecosystem and LG Electronics, he said Andhra Pradesh has consistently demonstrated its ability to execute large industrial projects in record time.

The minister also highlighted marquee investments including the Google Data Centre, the ArcelorMittal integrated steel plant and the fighter aircraft manufacturing project, noting that they reflect the growing confidence of global companies in the state's industrial ecosystem.

He added that Andhra Pradesh has attracted nearly 25 per cent of all investments coming into India.

Lokesh invited HD KOSE to undertake a detailed assessment of multiple potential locations across Andhra Pradesh for establishing a world-class shipbuilding and marine engineering facility, assuring the company that officials would identify suitable sites based on its technical, logistical and commercial requirements.

Further, he invited the HD KOSE leadership to visit Andhra Pradesh and explore investment opportunities in the state's shipbuilding and maritime sector. Emphasising Andhra Pradesh's world-class infrastructure, strategic coastline and proactive governance, Lokesh said the state is ready to become a trusted long-term shipbuilding partner for the company in India.