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HD Hyundai Heavy Industries Scraps Joint Venture Plan with India's Cochin Shipyard
Producer Manufacturing · Industrial Machinery · yonhap_finance · 2026-08-21
HD Korea Shipbuilding & Offshore Engineering has decided to terminate discussions on forming a joint venture with India's Cochin Shipyard.
What Happened
Termination of JV: HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has officially announced the termination of discussions regarding a joint venture with India's Cochin Shipyard. The plan, which aimed to establish a block manufacturing plant, was scrapped following mutual agreement between the two parties.
Background: The companies had previously signed a memorandum of understanding (MOU) in July of last year to explore various business opportunities. Despite the initial intent to collaborate on infrastructure, the parties have decided not to proceed with the joint venture entity.
Continued Cooperation: While the joint venture project has been cancelled, the companies will maintain their existing technical and business cooperation. Specifically, HD KSOE will continue to supply engines for small container ships that Cochin Shipyard is building for a French shipping line.
Strategic Outlook: Although the joint venture has been abandoned, HD KSOE intends to maintain its presence in the Indian market through ongoing technical partnerships. The company remains committed to its broader strategy of enhancing its competitive edge in the global shipbuilding industry.