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Indian PM seeks increased partnership between Indian yards and HHI

Indian PM seeks increased partnership between Indian yards and HHI
India’s Prime Minister Narendra Modi visited South Korea’s Hyundai Heavy Industries (HHI) on Tuesday to seek greater partnership between Indian shipyards and HHI.

During a meeting held at HHI headquarters in Ulsan, the Indian PM and the HHI management discussed various ways to expand cooperation in LNG carrier construction, shipbuilding technology and naval defense.

“In the foreseeable future, India’s state-run gas company GAIL is likely to place an order of maximum 11 LNG carriers to haul LNG from the US to India for 20 years starting in 2017,” HHI said in a statement.

“The visit of the prime minister this time is expected to cement the ties between HHI and its Indian counterpart,” the shipbuilder added.

Modi has shown particular interest in HHI’s technological prowess in building a wide range of naval vessels as well as high value-added vessels such as LNG carriers, according to HHI.

The Korean shipbuilder recently signed a memorandum of agreement with India-based engineering major Larson & Toubro on technological support for construction of LNG carriers.

HHI 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.