Korean and Indian governments are said to push ahead with newbuilding projects with an aim to enhance Indian naval power and shipbuilding business.
According to SBS CNBC, head of Defense Acquisition Program Administration (DAPA) of Korea and Minister of Defence from India had a first talk regarding Joint Venture deal between Indian and Korean shipbuilders, during 'DEFEXPO India 2012' in March, 2012.
SBS CNBC said that shipyards from both countries will establish JV and make joint investment over the next five years.
There is a strong possibility that the project will become bigger ranging up to shipyard modernization, etc.
Meanwhile, it said that Daewoo Shipbuilding & Marine Engineering is named to join the JV project.
Published : October 10, 2012
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