India, Korea sign MoU on shipbuilding
The governments of India and the Republic of Korea (ROK) have signed a memorandum of understanding (MoU) to develop and strengthen defence industry co-operation in naval shipbuilding, it was announced on 21 April.
The MoU is part of the overall 'Special Strategic Partnership' between the two countries announced in a joint statement in May 2015. The MoU will be valid for a time period of five years and is automatically extendable for further successive five years at a time.
Under the MoU, the two countries will recommend organisations to collaborate on specific projects. India has nominated Hindustan Shipyard (HSL), Visakhapatnam for the collaboration, while the ROK is yet to name its recommended organisation.
The collaboration will enable HSL to upgrade and modernise its facilities and execute naval projects in a timely and cost effective manner, improving its shipbuilding and project management capabilities.
HSL and the nominated shipyard by South Korea will also find and develop indigenous vendors for the supply of majority of the material and equipment needed for co-operative naval projects, further developing the maritime industries in both countries and supporting India's Make in India initiative.
More from Defence Notes
-
Just Released: Military Training Technology Report October 2024 now available to read
How the latest portable simulation solutions can deliver JTAC training wherever it is needed
-
Irish defence budget increased by just €100 million despite €25 billion surplus
The budget of more than €1.3 billion is a record figure for the Irish Defence Forces but almost a quarter is to meet to meet the pensions costs of Defence Forces Veterans and their dependents.
-
Just released: Night Vision & Situational Awareness Technology Report 2024 now available to read
How night vision devices and soldier-worn sensors are underpinning advanced tactical C4ISR capabilities
-
How temporary funding could affect the US military’s critical acquisition programmes
Operating under continuing resolutions would affect Patriot, Virginia-class, Columbia-class and B-21 programmes.
-
Brazil’s proposed $23.7 billion defence budget targets GDP-linked military funding
Brazil’s 2025 budget proposals will see a 5.9% increase in defence spending, with funds allocated for key programmes including the procurement of helicopters, armoured vehicles and nuclear-powered submarines, despite looming fiscal challenges.