Namgoong Geum-seong of Samsung Heavy Industries, right, and Vipin Kumar Saxena of India's Swan Shipyard pose after signing an MOU on Sept. 29. Courtesy of Samsung Heavy Industries
SEOUL, September 29 (AJP) - South Korea's Samsung Heavy Industries said Monday it had signed a memorandum of understanding with Swan Defence and Heavy Industries, an Indian shipyard, in a move to expand its global footprint in shipbuilding and marine projects.
The agreement positions Samsung Heavy to collaborate with Swan on ship design, procurement and production management. The Indian company operates the nation’s largest dry dock, capable of building very large crude carriers and offshore facilities.
For Samsung Heavy, the partnership offers a production foothold in India. The company said it intends to scale up its operations there gradually.
“This collaboration combines technology and market opportunities, creating a win-win model for both companies,” Namgoong Geum-seong, head of Samsung’s production support division, said in a press release.
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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