South Korea's HD Hyundai targets naval contracts in India

SEOUL, November 11 (AJP) - HD Hyundai Heavy Industries said Tuesday it had signed a memorandum of understanding with Cochin Shipyard, India’s largest state-owned shipbuilder, to help the country modernize its maritime capabilities.

The agreement centers on the Indian Navy’s Landing Platform Dock (LPD) project, part of New Delhi’s effort to strengthen domestic shipbuilding. Under the accord, the two companies will cooperate on design, construction and technology sharing, combining Cochin’s local manufacturing base with HD Hyundai’s naval engineering expertise.

Cochin Shipyard, based in Kerala, has built a wide range of vessels, including India’s first indigenous aircraft carrier. The South Korean company’s latest deal follows an earlier partnership inked in July between Cochin Shipyard and HD Korea Shipbuilding & Offshore Engineering, HD Hyundai’s intermediate holding company. That initial agreement focused on collaboration in procurement, productivity improvement and workforce development.

The new MOU aims to jointly execute the LPD program, which could serve as a strategic entry point into India’s broader naval and defense shipbuilding market, HD Hyundai said. HD Hyundai plans to provide design and technical support, drawing on its experience in building naval vessels for countries such as the Philippines and Peru.

India has stepped up its naval modernization drive under its TPCR 2025 plan, which outlines military technology and capability development through 2040, including next-generation destroyers, submarines and amphibious ships.

“We believe we are the ideal partner for the Indian Navy’s modernization efforts,” said Joo Won-ho, head of HD Hyundai Heavy's naval and medium-sized ship division. “This collaboration represents a significant step in expanding our footprint in the Indian naval market.”

* This article, published by Aju Business Daily, was translated by AI and edited by AJP.