Seoul: Samsung Heavy Industries Co. announced a new partnership with India's Swan Defence and Heavy Industries to collaborate on shipbuilding and offshore engineering projects.

According to Yonhap News Agency, the two companies have signed a memorandum of understanding (MOU) to cooperate in the engineering, procurement, and management of shipbuilding and offshore projects. This collaboration marks a strategic move for Samsung Heavy Industries as it aims to establish a presence in the Indian market, leveraging Swan Defence's capabilities.

Swan Defence and Heavy Industries operates India's largest dry dock, which is capable of constructing very large crude carriers (VLCCs). This facility is expected to play a critical role in the joint projects envisioned under the partnership.

Samsung Heavy Industries views this collaboration as an opportunity to expand its global network, following its recent strategic partnership with U.S.-based Vigor Marine Group in August. The company plans to gradually increase its business operations in India as part of its broader strategy to strengthen international ties and enhance its market position.