HD Hyundai and Kiewit to Establish Joint Venture for U.S. Shipyard
HD Hyundai is partnering with Kiewit to build a new shipyard in the U.S., aiming to enhance shipbuilding capacity.
HD Hyundai is partnering with Kiewit to build a new shipyard in the U.S., aiming to enhance shipbuilding capacity.
South Korean shipbuilding leader HD Hyundai Co. has announced a joint venture with U.S. engineering firm Kiewit to construct a new shipyard in the United States. The agreement was signed in Houston, Texas, and the venture is tentatively named HD-Kiewit Shipbuilding LLC.
Construction is set to commence next year, with operations expected to begin by 2029. In this collaboration, HD Hyundai will contribute its advanced shipbuilding technology, while Kiewit will utilize its engineering and construction expertise to develop the facility.
This project is particularly notable as it involves building a new shipyard rather than upgrading an existing one, which is expected to significantly boost U.S. shipbuilding capabilities and strengthen domestic supply chains. The joint venture will target opportunities in U.S. Navy logistics support vessels and commercial ships, and will also explore the production of ship blocks and modules for U.S. shipyards.
Chad Johnson, president of Kiewit Maritime Co., expressed enthusiasm about the partnership, stating, "Together with HD Hyundai's world-class shipbuilding expertise, we see an opportunity to build a modern shipyard that expands U.S. shipbuilding capacity, develops a skilled workforce, and strengthens the domestic supply chain."
