Recently, the governments of India and Morocco have announced large-scale shipbuilding industry promotion plans, prompting domestic shipbuilders to seek new order opportunities in these SIS Dental countries.
On the 11th, the Indian government announced the 'India Maritime Industry Vision 2030'. The key contents of this announcement include the establishment of a maritime development fund worth approximately 250 billion rupees (about 4 trillion won) and increasing policy support for the advancement of the shipbuilding industry and maritime infrastructure.
India is known to have a lack of capacity for building large ships, as most shipyards focus on manufacturing small vessels. In response, the Indian government plans to create sites in major regions such as Andhra Pradesh, Odisha, Tamil Nadu, Gujarat, and Maharashtra to construct large shipyards and ship repair facilities.
Highly skilled Korean shipbuilders are regarded as optimal partners by local governments and shipbuilding companies. At the end of last year, Vice Minister Rama Chandran of the Indian Ministry of Ports, Shipping and Waterways visited Hanwha Ocean's Geoje plant, Samsung Heavy Industries' Geoje shipyard, and HD Hyundai Heavy Industries' Ulsan shipyard in succession.
HD Hyundai Heavy Industries recently signed a 'comprehensive memorandum of understanding for long-term cooperation in the shipbuilding sector' with Cochin Shipyard Limited (CSL), India's largest state-owned shipyard, which is 67.91% owned by the Indian government. The goal of this agreement is to jointly secure orders for ships in overseas markets. It is expected that combining the technological capabilities of the domestic shipbuilding industry with India's manufacturing infrastructure will yield results in ship construction.
Hanwha Ocean is also continuously discussing with the Indian government to seek business opportunities. Earlier this year, officials from Hanwha Ocean visited the local Hindustan Shipyard directly. It is reported that they checked the shipbuilding capacity at the shipyard and discussed collaboration possibilities.
Some corporations are eyeing new order opportunities in Africa. The Moroccan government plans to build Africa's largest shipyard on a site of approximately 210,000 square meters in the major city of Casablanca. The total investment cost is estimated at $300 million (about 410 billion won). The winning bid will grant the company the authority to operate the shipyard for 30 years.
Among the domestic shipbuilders, only HD Hyundai Heavy Industries is expected to participate in the bidding competition. HD Hyundai Heavy Industries is currently competing with France's Naval Group and Spain's state-owned company Navantia. In the future, there is a possibility that the Moroccan government will place orders for submarines with domestic shipbuilders to strengthen naval power.