HD Hyundai Heavy Industries (HHI), a major South Korean shipbuilder, is exploring the possibility of establishing a shipyard in India. Company representatives recently visited India to identify potential locations for the facility, reports MSN.
Potential Partnership
HD Hyundai Heavy Industries, one of the world’s largest shipbuilders, is exploring potential partnerships in India. Company representatives recently visited shipyards in Tamil Nadu, including L&T’s facility in Kattupalli, which is capable of shipbuilding, retrofitting, and conversions.
HD Hyundai is also reportedly in discussions with other maritime states, including Andhra Pradesh and Maharashtra, indicating a competitive environment among Indian states to attract the shipbuilder.
Both HD Hyundai and L&T have not yet commented on these potential collaborations. This follows a visit by an Indian delegation to South Korean shipyards in December 2024 to explore opportunities for boosting India’s shipbuilding sector.
New Shipping Company
India’s plan to establish a new shipping company and add 1,000 ships within ten years is creating opportunities for shipbuilding expansion. Industry experts suggest that existing shipyards are at capacity and looking to expand. HD Hyundai’s potential interest in establishing a presence in India is seen as a strategic move, especially given the Indian government’s focus on local shipbuilding.
Analysts believe that HD Hyundai’s presence in India could significantly benefit the Indian shipbuilding industry through technology transfer, increased confidence among ship owners, and further investment in advanced technologies.
HD Hyundai has a long history in shipbuilding, beginning in the early 1970s. Their Ulsan shipyard in South Korea is one of the world’s largest, capable of building all ship types and having delivered over 2,300 ships to various owners globally. Their experience and scale make them a potentially valuable partner for India’s shipbuilding ambitions.
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Source: MSN
