Sol/New Delhi, 29 September (IANS). Samsung Heavy Industries announced on Monday that the company has partnered with India’s Swan Defense and Heavy Industries to cooperate in shipbuilding and offshore engineering.
According to the report of the Yonhap news agency, Samsung Heavy informed that under the first signed MoU, both companies will cooperate in engineering, procurement and management of shipbuilding and offshore projects.
Swon Defense and Heavy Industries runs India’s largest dry dock. The company has the ability to create a very large crude career (VLCC).
Samsung Heavy said that the company aims to grow its business. Also, this partnership will help the company strengthen its hold in India.
The deal is part of the Samsung Heavy’s attempt to strengthen its global network after a strategic partnership with the US-based Wigar Marine Group in August.
Meanwhile, the Union port, ship transport and waterways minister Sarbananda Sonowal said that India is planning to invest about Rs 1.82 lakh crore in shipbuilding and maritime sector, making India one of the major marine countries of the world.
The Union Minister said that financial assistance will be provided to shipbuilders for the construction of all size ships, so that the country can be ready for future needs.
Union Minister Sonowal said that the government aims to include India in the top five countries in the world by making a strong ecosystem.
He credited Prime Minister Narendra Modi’s perspective in the last 11 years for making shipping an important infrastructure colum.
Under the leadership of PM Modi, the government is trying to create a world-class marine ecosystem in India. In this sequence, India’s shipbuilding industry is going through a major change.
In line with Maritime India Vision 2030 and long -term strategic roadmaps of Amrit period, Union Budget 2025 has announced several reforms and investment to increase Indian shipyard capacity and competition capacity.
-IANS
SKT/
