Indian prime minister Narendra Modi visited Korean shipbuilder Hyundai Heavy Industries (HHI), seeking increased partnership between the India’s shipbuilding industry and HHI.
HHI is reportedly the only Korean company the prime minister visits during his two-day stay in the country.
In a meeting at the HHI headquarters in Ulsan, Modi and HHI management discussed ways to expand cooperation on naval defense, LNG carrier construction and shipbuilding technology. The prime minister displayed particular interest in HHI’s range of naval vessels as well as high value vessels such as LNG carriers.
HHI said India’s state-run gas company GAIL is likely to order up to 11 LNG carriers to transport LNG from the U.S. to India for 20 years starting in 2017. Meanwhile, HHI recently signed an MOU with India-based engineering major Larson & Toubro on technological support for construction of LNG carriers. Modi’s visit is expected to cement the ties between HHI and its Indian counterpart, HHI said.
HHI noted it has undertaken a total of 30 offshore projects for India, beginning with the Mumbai offshore oil platform project in 1982. The company has also operated construction equipment production lines in Pune since 2008.