New Delhi: HD Hyundai Heavy Industries (HD HHI) on November 11 announced that it has signed an agreement with India’s Cochin Shipyard to jointly build naval vessels and pursue upcoming Indian Navy procurement projects.
India’s largest state-owned yard, Cochin Shipyard already works with HD Hyundai’s parent HD Korea Shipbuilding & Offshore Engineering, the parent company of HD HHI, on talent training, design upgrades and supply-chain cooperation.
Both the companies, Cochin Shipyard and HD HHI are now planning to jointly bid for India’s landing platform dock project, which received initial approval from India’s Ministry of Defence in October. For the bid, HD HHI will provide design and technology support for the amphibious assault ships.
“HD Hyundai Heavy Industries is an ideal partner for India’s naval modernisation program,” said Joo Won-ho, president of HD HHI’s naval and medium-size shipbuilding unit. “We expect this partnership to serve as an important turning point in our expansion into the Indian naval ship market.”
HD HHI sees growing opportunities in the country’s defence sector as India pursues naval modernisation, covering next-generation destroyers, landing ships and nuclear propulsion systems,.
According to the company, HD Hyundai Heavy Industries has extensive experience in naval shipbuilding and technology collaboration with multiple countries. “We are well-positioned to establish an efficient joint proposal and technology transfer framework with local partners,” it said.
HD HHI with an established track record of supplying ships to the Korean Navy, has been expanding its global presence in the defence shipbuilding. The company has also collaborated with Huntington Ingalls Industries, the largest defence shipbuilder in the United States, and has partnered with the Philippines and Peru on naval vessel construction projects.
The company emphasised that its planned integration with affiliate HD Hyundai Mipo in December will further enhance its global defence cooperation capabilities, leveraging Mipo’s experience in managing overseas shipyards.
