Samsung Heavy Industries  is accelerating its global network expansion by strengthening strategic business cooperation with an Indian shipyard, following its ventures in China and the United States.

SHI announced on Sept. 29 that it has signed a memorandum of understanding (MOU) for shipbuilding and marine business cooperation with Swan Defence and Heavy Industries, a shipyard located in northwestern India.

The Swan shipyard, equipped with India’s largest dry dock (662 x 65m) capable of constructing very large crude carriers (VLCC) and offshore facilities, offers SHI opportunities to collaborate in the fields of new ship engineering, procurement and management (EPM), as well as marine projects.

Through this collaboration, SHI aims to establish a production foothold in India, which is actively fostering its shipbuilding industry based on rapidly increasing maritime freight volumes, and plans to gradually expand its business operations.

Meanwhile, SHI is laying the groundwork for a sustainable business system by expanding its global network, having established strategic business cooperation with China’s PaxOcean last July and the United States’ Vigor Marine Group this August, based on its advanced shipbuilding and marine EPC capabilities.

Namgoong Geumseong, executive vice president and head of SHI’s Production Support Division, stated, “This collaboration, where technology and market combine, is the best cooperation model for both companies to achieve a win-win,” adding, “SHI will continue to strive to create future growth opportunities.”

Vipin Kumar Saxena, CEO of Swan Defence, expressed, “We are pleased to collaborate with the global company Samsung Heavy Industries,” and hoped to “explore new business opportunities in the shipbuilding and marine sector with SHI.”

Source:Business Korea