Hindustan Shipyard Ltd (HSL) Chairman and Managing Director Rear Admiral N.K. Mishra is expected to hold talks with top officials of Hyundai Heavy Industries Co. Ltd in South Korea on the contours of collaboration to build warships and submarines.
Mr. Mishra, who left for South Korea on Monday evening to attend a workshop on supply chain management, will explain to Hyundai the shipyard’s expectations from the global shipping giant in taking up submarine construction if it wins a Rs.60,000-crore contract from the Indian Navy.
HSL is among five shipyards shortlisted by a high-power committee set up by the Ministry of Defence to construct the next generation of submarines with world-class underwater warfare systems.
HSL signed an agreement early this year with Hyundai for technical collaboration. The Visakhapatnam-based shipyard, the largest on the East Coast, has already formed a consortium with government-owned Bharat Heavy Electricals Limited and Mishra Dhatu Nigam Limited (MIDHANI) to make a strong bid for submarine construction.
It recently delivered Soviet-made INS Sindhukirti submarine to the Navy after retrofitting. Prime Minister Narendra Modi during his recent visit to Korea met Hyundai chairman Choi Kil-seon and sought his support for collaboration with HSL to bring down the delivery time of warships from six to two-and-a-half years as part of his ‘Make in India’ initiative. A delegation from Hyundai is scheduled to visit India on July 27 to meet officials of the Navy and HSL to discussion the nitty-gritty of undertaking various joint venture projects.
“We are hopeful of a positive response from Hyundai, which will be mutually beneficial,” Mr. Mishra told The Hindu before leaving for South Korea.
