# Hanwha Plans $5B Philadelphia Shipyard Investment

Hanwha plans to invest **$5 billion** in Philly Shipyard in Philadelphia, a move U.S. Senator Dave McCormick has praised as supporting expanded U.S. shipbuilding capacity, workforce growth, and the transfer of advanced manufacturing technologies. The investment could create demand for shipyard modernization, automation, and related industrial-base capabilities, but the signal identifies no government solicitation, contract award, or procurement schedule.

- Shipbuilding, manufacturing, and automation contractors can assess whether their capabilities align with the planned expansion; the signal does not identify specific solicitations or confirmed contract opportunities.
- Procurement teams should distinguish Hanwha’s planned private investment from a government contract award when evaluating near-term pipeline and revenue expectations.
- The development points to potential growth in U.S. shipbuilding capacity and workforce needs, but provides no timelines or specific requirements for suppliers to act against.

**Jurisdictions:** federal
**Industries:** Defense & Military, Construction & Infrastructure
**Topics:** Physical Infrastructure
**Published:** October 17, 2026

### Government Entities
- U.S. Senate

### Vendors
- Hanwha Group (Investor and shipyard owner)
- Philly Shipyard (Shipyard acquired by Hanwha)

### Key Quotes
> The Hanwha shipbuilding deal is critical to that, and that’s just the beginning.
> — Dave McCormick, U.S. Senator

### Sources
- [U.S. senator lauds Hanwha's role in revitalizing U.S. shipbuilding industry](https://www.koreajoongangdaily.com/business/us-senator-lauds-hanwhas-role-in-revitalizing-us-shipbuilding-industry/12925117) - Korea JoongAng Daily