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Hyundai Heavy industries to set up JV with Russian state-shipyard
By 최희석Published : Sept. 5, 2016 - 10:40
[THE INVESTOR] Hyundai Heavy Industries and Russia’s Far Eastern Shipbuilding and Ship Repair Center will set up a joint venture, the South Korean company said on Sept. 4.
Under the agreement, the companies will set up a joint venture specializing in ship design and shipbuilding project management.
Under the agreement, the companies will set up a joint venture specializing in ship design and shipbuilding project management.
Far Eastern Shipbuilding and Ship Repair Center is a Russian state-owned shipbuilder.
The South Korean company will also provide the Russian firm’s subsidiary Zvezda Yard located in Primorsky Krai with technical support.
HHI said that the project would generate new revenue sources such as exporting shipbuilding materials and providing professional workforce, as well as ship design and project management.
By Choi He-suk (cheesuk@heraldcorp.com)
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