HD Hyundai, Kiewit to form JV to build shipyard in US

HD Hyundai, a leading Korean shipbuilding company, and U.S. engineering firm Kiewit have announced plans to form a joint venture to construct a new shipyard in the United States. The agreement, signed in Houston, creates a company tentatively named HD-Kiewit Shipbuilding LLC. The joint venture aims to commence construction of the shipyard in the coming year, with full operational capacity expected by 2029.

HD Hyundai will contribute its shipbuilding technology and production expertise to the project, while Kiewit will utilize its engineering and construction capabilities to support the development of the facility. The partnership is significant as it involves the construction of a new shipyard, as opposed to upgrading an existing facility. This move is anticipated to expand U.S. shipbuilding capacity and bolster domestic supply chains.

The joint venture will explore potential business opportunities in U.S. Navy logistics support vessels and commercial ships. Additionally, it may consider producing and supplying ship blocks and modules to U.S. shipyards.