Samsung Heavy Industries to Strengthen Shipbuilding Footprint in India

Seoul/New Delhi – Samsung Heavy Industries announced on Monday that it has partnered with India’s Swan Defence and Heavy Industries to collaborate in shipbuilding and offshore engineering.

Under a memorandum of understanding (MoU) signed earlier, the two companies will cooperate on the engineering, procurement, and management of shipbuilding and offshore projects, Samsung Heavy said, according to Yonhap News Agency. Swan Defence operates India’s largest dry dock, capable of constructing very large crude carriers (VLCCs).

Samsung Heavy said the partnership will help the company establish a foothold in India, with plans to gradually expand its operations in the country. The deal is part of Samsung Heavy’s recent strategy to strengthen its global network, following its August partnership with the US-based Vigor Marine Group.

Highlighting India’s focus on maritime growth, Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal said the country is eyeing investments of around ?1.82 lakh crore in shipbuilding and maritime infrastructure. This support will be extended to shipbuilders to construct vessels of all sizes, preparing India for future maritime needs.

Sonowal emphasized that the government aims to position India among the world’s top five shipbuilding nations by building a comprehensive ecosystem from the ground up. He credited Prime Minister Narendra Modi’s vision over the past 11 years for transforming shipping into a key infrastructure pillar.

The shipbuilding sector in India is undergoing a significant transformation, with initiatives under the Maritime India Vision 2030 and the long-term Amrit Kaal roadmap. The Union Budget 2025 has announced reforms and investments designed to enhance the capacity and competitiveness of Indian shipyards.

With inputs from IANS