Hindustan Shipyard (HSL) plans to establish its first satellite shipyard in north coastal Andhra Pradesh to support expanding defence, green vessel, commercial, and oil & gas projects.

Chairman and Managing Director Commodore Hemant Khatri said the company has requested at least 110 acres of land from the State government, with Moolapeta in Srikakulam district and the Kakinada coastline identified as potential sites. The project will follow a PPP mode, with formal visits already conducted. HSL’s revenue rose from Rs 403 crore in FY 2020-21 to Rs 1,783 crore in FY 2024-25, and it targets Rs 3,000 crore within two years.

The company's partnerships include Lotus Wireless, Vinssen and DSEC of South Korea, Toshiba of Japan for LTO batteries, and MoUs with Pentagon Rugged Systems and Bharat Earth Movers.

Upcoming projects include electric and hydrogen tugs, 150-pax hydrogen ferry, INS Nipun delivery, LPDs, mine countermeasure vessels, WJFACs, product tankers, and offshore vessels, aligning with the Atmanirbhar Bharat vision.