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HD Hyundai plans U.S. shipbuilding production hub with Kiewit

By Maekyung News Service

South Korea’s HD Hyundai Co. is pursuing a joint venture with U.S. engineering, procurement, and construction (EPC) company Kiewit Corp. to establish a shipbuilding production base in the United States..

According to industry sources on Thursday, HD Hyundai is considering purchasing land to build facilities for manufacturing ship blocks and large steel structures, rather than acquiring an existing shipyard.

The approach differs from Hanwha Ocean’s acquisition of Philly Shipyard in 2024.

Kiewit is reportedly expected to provide equity investment and handle local construction, with investment to increase gradually after the initial facilities are established. The companies are also considering supplying the blocks to U.S. defense shipbuilders, including Huntington Ingalls Industries Inc. (HII).

The two companies signed a strategic partnership in July to cooperate on ship block and module production in the U.S. and are now working out the details.

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