HD Hyundai in final talks with US EPC firm Kiewit to build local production base

HD Hyundai is pushing to establish a joint venture with a US engineering, procurement and construction firm to build a production base in the United States.

According to industry sources Thursday, HD Hyundai is in final negotiations with Kiewit, one of the largest construction, engineering and infrastructure companies in the US, over the formation of a joint venture. Kiewit has an extensive track record in large-scale offshore structure EPC projects.

The two companies signed a strategic partnership in July centered on exploring the joint construction of ships in the United States. "We have been in discussions since signing the partnership," an HD Hyundai official said.

The companies are reportedly discussing acquiring a local site and building yards to manufacture ship blocks and large steel structures. A longer-term option to expand the facility into a full shipyard is also under consideration.

HD Hyundai has been exploring various options — including acquiring or taking stakes in US shipyards — since announcing its MASGA project last year. If the current deal goes through, the company would build its own production base on US soil, taking a different approach from Hanwha Ocean, which acquired Philly Shipyard.

"It is true that the two sides are discussing additional areas of cooperation, but nothing has been finalized yet," an HD Hyundai official said.