Visakhapatnam: Hindustan Shipyard Ltd in the city is preparing ground to strike a partnership with Hyundai Heavy Industries Co Ltd of South Korea for construction of fleet support ships (FSS) for the Navy in both the countries.
An MoU is likely to be signed next year on this. At present, talks are in progress between the Ministry of Defence and South Korea. The issue of mutual cooperation was discussed as early as in May 2015 during the visit of Prime Minister Narendra Modi to Hyundai.
HSL Chairman and Managing Director L.V. Sarat Babu said on Wednesday that the first ship was expected to roll out in October, 2022, from the Hyundai facility in South Korea.
Simultaneously, the construction of another FSS would start at HSL with the guidance of Hyundai. The cost of five FSS would be around Rs.9,500 crore, he said.
The HSL was planning to roll out one FSS every 10 months after the delivery of the first vessel from Hyundai, he said.