Minister of Petroleum and Natural Gas, Hardeep Singh Puri said that India-Korea cooperation model for vessel building can not only meet India’s growing needs but also serve global markets.
Mr Puri highlighted that Korea has the technological expertise and experience in ship construction, while India offers strong demand, skilled manpower and supportive policies which can lead to a winning partnership. The Minister said this on the 3rd leg of his 3-day South Korea visit. He further said that vessels built under such collaborative arrangements can recover costs within five years and position India as a major global maritime hub.
During this Visit, the Minister was briefed on shipbuilding capabilities, advanced vessel construction processes and innovation in maritime technologies. In a statement, the Ministry noted that today’s visit aimed at deepening maritime cooperation and expanding opportunities in shipbuilding, fleet development and energy transportation between the two nations.
