HD Hyundai and Cochin ink shipbuilding deal

The agreement covers design and procurement support, and upskilling the workforce.

HD Hyundai has agreed to leverage shipbuilding opportunities in India.

In a statement, HD Hyundai said its intermediate holding company, HD Korea Shipbuilding & Offshore Engineering, has signed a comprehensive memorandum of understanding with Cochin Shipyard Limited (CSL) for long-term cooperation in the shipbuilding sector.

Under the deal, the parties will pursue strategic cooperation across a range of areas, including design and procurement support for CSL, technical collaboration to enhance productivity and ensure global-quality standards, and the advancement of workforce capabilities through improved training systems. In particular, both parties have agreed to jointly explore new shipbuilding orders in the Indian and international markets.

This aligns with India's maritime development roadmaps, including the 'Maritime India Vision 2030' and the Maritime Amrit Kaal Vision 2047.

The partnership will also help HD Hyundai strengthen its presence in India, whilst further enhancing its global competitiveness in the shipbuilding industry.

"By leveraging HD Hyundai's accumulated technological expertise and experience, we will support CSL in enhancing its global competitiveness, while also seeking opportunities for shared growth with Korean equipment suppliers,” said an HD Hyundai official.

Meanwhile, HD Hyundai is also expanding beyond India, which includes an agreement with Huntington Ingalls Industries, the largest defence shipbuilder in the US, and a strategic partnership agreement with Edison Chouest Offshore in June.