State-owned Cochin Shipyard Ltd (CSL) has signed a Memorandum of Understanding (MoU) with one of the world’s largest shipbuilders, South Korea’s HD Korea Shipbuilding & Offshore Engineering Co. Ltd (KSOE), for long-term cooperation between the two companies in various domains of shipbuilding and maritime development, the Mumbai-listed shipbuilder said.
The MoU envisages long-term collaboration, including joint exploration of shipbuilding opportunities in India and abroad; sharing of technical expertise to scale up to the global standards in shipbuilding; identification of initiatives to enhance productivity and capacity utilisation; joint efforts to upskill and strengthen workforce; and exploration of potential collaboration in other shipbuilding-related projects.
KSOE is a global leader in shipbuilding and marine engineering, with proven expertise in designing and constructing commercial vessels, naval platforms, and offshore infrastructure . It oversees the operations of some of the world’s largest shipyards, including Hyundai Heavy Industries, Hyundai Mipo Dockyard, and Hyundai Samho Heavy Industries.
This MoU, under which the two companies will pursue strategic cooperation across a range of areas, aligns with the Government of India’s vision to develop the country into a global maritime hub under the ‘Maritime India Vision 2030’ and the ‘Maritime Amrit Kaal Vision 2047’. These strategic frameworks are backed by initiatives such as the recently announced ₹25,000 crore Maritime Development Fund, aimed at accelerating investment in
shipbuilding, port modernisation, and infrastructure upgrades.
The MoU is a significant step toward strengthening India’s shipbuilding ecosystem through global collaboration and knowledge exchange, enhancing self-reliance and competitiveness in the maritime sector, the shipyard said.