SEOUL (dpa-AFX) - South Korean shipbuilding company HD Hyundai Heavy Industries Co. has signed a memorandum of understanding (MOU) with Cochin Shipyard Ltd. (CSL), India's largest state-run shipbuilder, to cooperate on the Indian Navy's landing ship project.
Under the agreement, HD Hyundai Heavy will provide support in project planning, procurement, productivity enhancement, and personnel training for the Indian Navy's Landing Platform Dock (LPD) program. The project is worth about 13 trillion won or about $9 billion.
The company said it expects the 'strategic partnership' to pave the way for its entry into India's special-purpose vessel market.
Cochin Shipyard is located in the southern Indian state of Kerala. It has the capabilities to build ships ranging from commercial vessels to aircraft carriers.
In July, HD Korea Shipbuilding & Offshore Engineering, HD HHI's parent company, signed an MOU with Cochin Shipyard to collaborate on ship design, procurement support, productivity improvement, and workforce training. The latest agreement expands that partnership into naval defense.
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