Senior executives from South Korean shipbuilder Hanwha Ocean (KRX:042660), led by Senior Vice President Lee Jin-su, met with Indian shipbuilding authorities to discuss potential partnerships to boost the country's shipbuilding industry, The Korea Herald reported Friday.
The delegation held talks with Shri T.K. Ramachandran, Secretary of the Ministry of Ports, Shipping and Waterways, and visited Hindustan Shipyard in Andhra Pradesh last week, the report said.
The visit sparked expectations of Hanwha's involvement in India's shipbuilding goals, aligning with the country's aim to become a top-five global shipbuilding power by 2047. This follows a recent Indian delegation's visit to South Korea to explore collaborations with its maritime industry, it said.
Shares of Hanwha Ocean rose nearly 1% in recent trade on Monday.
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