HD Hyundai Pursues JV with U.S. Contractor Kiewit to Build Local Ship Block Yard

HD Hyundai is pursuing plans to establish a shipbuilding-block production base in the United States in partnership with Kiewit, a U.S. engineering, procurement and construction (EPC) company. Attention is focused on whether this will accelerate efforts to build a local production base for entering the U.S. shipbuilding market.

According to industry sources on October 22, HD Hyundai is reportedly in the final stages of negotiations with Kiewit on establishing a joint venture (JV) in the United States.

The two companies are reportedly discussing purchasing a site in the United States and building a yard capable of producing ship blocks and large steel structures. Plans to expand the business in the future and develop the site into a shipyard are also reportedly under consideration.

HD Hyundai has been considering various ways to enter the U.S. market, including investing in or acquiring stakes in local shipyards and building a new shipyard. As negotiations to establish the joint venture take shape, the outline of its strategy to secure a U.S. production base is emerging.

Industry observers are also watching for the possibility that the project could lead to an investment linked to MASGA, a $150 billion U.S.-South Korea shipbuilding cooperation project.

In July, HD Hyundai signed a “Strategic Partnership for Shipbuilding Cooperation” with Kiewit. Since then, the two companies have continued discussions on plans to jointly build ships in the United States and produce ship blocks and modules.

Kiewit is a company with strengths in large-scale EPC projects involving power generation, energy, offshore, and industrial facilities. It also has experience carrying out a range of projects in North and South America, including the fabrication and installation of large offshore structures and commissioning.

An HD Hyundai official said, “It is true that the two companies are discussing additional ways to cooperate, but nothing has been finalized yet.”

This content was produced with the assistance of AI translation services.