Mazagon Dock Shipbuilders quits Thoothukudi shipyard after HD Hyundai conflict
Business
Mazagon Dock Shipbuilders Ltd (MDL) has pulled out of building a shipyard in Thoothukudi after a land conflict with HD Hyundai, whose larger project was prioritized by Tamil Nadu's government.
MDL signs ₹15,000Cr Andhra Pradesh deal
MDL had signed an MoU last year to invest up to ₹15,000 crore to ₹18,000 crore in Thoothukudi, but delays and land issues forced it to walk away.
Now, it's shifting gears: MDL just inked a ₹15,000 crore deal for a new shipyard in Andhra Pradesh, with around 45,000 direct and indirect jobs expected, and is planning another massive investment in Maharashtra.
Meanwhile, HD Hyundai is moving forward with its own Thoothukudi plans, and Tamil Nadu has offered MDL alternative land parcels at other suitable locations in the state.