HD Hyundai's Chairman Chung Ki-sun engaged in discussions with high-ranking Indian energy ministry representatives, aiming to explore enhanced collaborative opportunities in maritime industries, coinciding with India's strategic push to bolster its shipbuilding capabilities and increase its commercial maritime fleet.
During a meeting at HD Hyundai's Global Research and Development headquarters located in Seongnam, Gyeonggi Province, Indian Petroleum and Natural Gas Minister Hardeep Singh Puri engaged in discussions with Chung, focusing on exploring and maximizing potential collaborative opportunities between their organizations.
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Among the attendees at the gathering were Gourangalal Das, who serves as India's diplomatic representative in South Korea, Esha Srivastava, the top administrative official for the Petroleum and Natural Gas Department, Arun Kumar Singh, the leading executive of Oil and Natural Gas Corporation, Madhu Nair, the head of Cochin Shipyard, and Sushil Kumar Singh, the chairman of Deendayal Port Authority.
HD Hyundai reported that Chung led the visiting group through their research facility, showcasing the company's advanced ship design capabilities and intelligent shipyard management technologies. During the discussion, they explored potential strategies for applying Hyundai's engineering expertise to enhance India's shipbuilding sector and develop its commercial maritime fleet.
The discussion occurred while India is currently implementing its Maritime Amrit Kaal Vision 2047, a governmental strategy designed to enhance the nation's internal capabilities and international competitiveness within maritime-related industries, including ship operations, shipyards, shipbuilding, and maritime industrial facilities.
According to HD Hyundai, the Indian government intends to increase its commercial maritime fleet from the current 1,500 vessels to 2,500, with a planned investment of $24 billion to support the Amrit Kaal national development strategy. The Korean company further noted that the Indian government recently declared its commitment to allocate $8 billion specifically for fleet expansion purposes.
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“HD Hyundai will be the best partner India could hope for as to supporting the Indian shipbuilding industry. We’ll continue brandishing our global leadership in the maritime industry," Chung said following the meeting.
Puri says, “HD Hyundai will be a key partner in realizing India’s maritime vision. We look forward to further deepening and advancing our cooperation through exchanges between the Indian government and HD Hyundai”.
The Indian delegation will proceed with its scheduled visit to the HD Hyundai Heavy Industries shipyard located in Ulsan, where the facility manufactures both commercial and specialized marine vessels.
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In July, HD Hyundai entered into a cooperative agreement with Cochin Shipyard, committing to provide assistance in naval architectural design, enhance operational efficiency, and offer personnel development programs. The collaboration between the two entities has recently broadened its scope to include naval vessel construction, as reported by the company.