Joint Development of Naval Landing Ships with India's Largest State-Owned Shipyard
Expanding the 'Special-Purpose Vessel Global Network' Following the Philippines and Peru
Enhancing Technological Competitiveness and Business Execution with Year-End Merger Synergy
HD Hyundai is accelerating its entry into the Indian naval vessel market by expanding its partnership with Cochin Shipyard in India.
HD Hyundai Heavy Industries, the shipbuilding affiliate of HD Hyundai, announced on November 11 that it has recently signed a 'Strategic Cooperation Memorandum of Understanding (MOU) for the Indian Navy Landing Ship Project' with Cochin Shipyard (CSL), the largest state-owned shipyard in India. Through this partnership, HD Hyundai Heavy Industries aims to establish a foothold in the Indian special-purpose vessel market while focusing on securing competitiveness through landing ship design and technical support. Leveraging its experience in naval shipbuilding and technology cooperation with countries such as the Philippines and Peru, the company plans to make joint proposals with local partners and efficiently establish a technology transfer system, which is considered a key strength.
Cochin Shipyard, located in Kerala in southern India, is a state-owned shipyard with capabilities in designing, building, and repairing a wide range of vessels, from merchant ships to aircraft carriers. In July, HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company of HD Hyundai's shipbuilding division, signed an MOU with Cochin Shipyard focusing on ▲ design and procurement support ▲ productivity improvement ▲ human resource development, among other areas. The latest MOU is a follow-up step, serving as a strategic partnership to jointly undertake the Indian Navy's landing ship project.
The Indian government is pursuing a military modernization plan to strengthen its defense capabilities. Through the recently announced 'TPCR 2025 (Technology Perspective & Capability Roadmap 2025),' it outlined the development direction for next-generation destroyers, landing ships, and nuclear propulsion systems to enhance naval power over the next 15 years. HD Hyundai Heavy Industries plans to maintain a long-term cooperative relationship in line with India's naval modernization efforts.
The planned merger between HD Hyundai Heavy Industries and HD Hyundai Mipo, scheduled for the end of the year, is expected to further boost this partnership. The company stated that combining HD Hyundai Heavy Industries' expertise in naval shipbuilding with HD Hyundai Mipo's experience in operating overseas shipyards will simultaneously strengthen both technological competitiveness and business execution capabilities.
Joo Wonho, Head of the Naval & Mid-sized Vessel Business Unit at HD Hyundai Heavy Industries, said, "HD Hyundai Heavy Industries is the optimal partner for India's naval modernization project," adding, "This partnership will be an important turning point for entering the Indian naval vessel market."
Meanwhile, HD Hyundai continues to collaborate on naval shipbuilding with countries such as the Philippines and Peru. On November 3, the company signed a 'Letter of Intent (LOI) for Joint Development and Construction of Submarines' with Peru's state-owned SIMA Shipyard, and in March, it delivered the first Philippine patrol vessel, the 'Miguel Malvar,' ahead of schedule.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
