*This content was translated by AI.
HD Hyundai's project to establish a new shipyard in India is expanding through cooperation with the Indian central government.
On the 20th, HD Hyundai announced that it signed a "Memorandum of Understanding (MOU) for establishing key infrastructure required for investment in a new shipyard and promoting the establishment of a joint venture" with India's "NSHIP TN" and Sagarmala Financial Corporation in New Delhi, India.
"NSHIP TN" is a special purpose vehicle established under the leadership of the VOC Port Authority, a subsidiary of the Indian central government, and will implement future Indian government support policies and various incentives. Through this, HD Hyundai succeeded in concretizing the business structure for establishing a new joint shipyard and expanding the scope of cooperation to the central government.
HD Hyundai will establish a new joint shipbuilding company (JV) together with the "Shipbuilding Investment Fund" created by "NSHIP TN" and Sagarmala Financial Corporation (SMFCL), and will oversee all aspects of shipyard operations as the largest shareholder.
An HD Hyundai official, speaking to this newspaper by phone, stated, "This agreement signifies that shipbuilding industry cooperation between the two countries has entered the commercialization stage," and added, "The foundation for mutual growth among domestic equipment suppliers can also be further expanded."
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*This content was translated by AI.
