HD Hyundai, Kiewit to form JV to build shipyard in U.S.

What happened: HD Hyundai said it will form a joint venture with U.S. engineering and construction company Kiewit to build a new shipyard in the United States. Why it matters: HD Hyundai said the project involves building a new shipyard rather than upgrading an existing one, which it expects to help expand U.S. shipbuilding capacity and strengthen domestic supply chains. The venture will explore opportunities in U.S. Navy logistics support vessels and commercial ships.

HD Hyundai said it will form a joint venture with U.S. engineering and construction company Kiewit to build a new shipyard in the United States.

HD Hyundai said the project involves building a new shipyard rather than upgrading an existing one, which it expects to help expand U.S. shipbuilding capacity and strengthen domestic supply chains. The venture will explore opportunities in U.S. Navy logistics support vessels and commercial ships.