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

Korean shipbuilder HD Hyundai and U.S. engineering firm Kiewit have agreed to form a joint venture to construct a new shipyard in the United States. The partnership, tentatively called HD-Kiewit Shipbuilding LLC, was announced in Houston on Thursday. The venture aims to commence shipyard construction next year, with full operations slated for 2029.

HD Hyundai will contribute its shipbuilding technology and production expertise to the project, while Kiewit will utilize its engineering and construction skills to support the facility's development. This collaboration is significant as it involves the building of a new shipyard, rather than upgrading an existing one. This move is expected to increase U.S. shipbuilding capacity and strengthen domestic supply chains.

The joint venture will investigate business prospects in U.S. Navy logistics support vessels and commercial ships. Additionally, it will consider the production and supply of ship blocks and modules to U.S. shipyards.