Greece's Skaramangas Shipyards and HD Hyundai Heavy Industries (HHI) of South Korea have entered into a memorandum of understanding (MOU) regarding the construction of new surface vessels for naval and coast guard use.
Skaramangas Shipyards said the MOU calls for cooperation between the two companies with the aim of jointly building surface vessels for the Hellenic Navy and the Hellenic Coast Guard.
The agreement will also cover maintenance, repair and overhaul services for naval and coast guard vessels as well as the development of unmanned surface vessels and combined manned-unmanned systems.
The agreement with Skaramangas Shipyards forms part of HHI's continued global expansion. The company has begun operations at a recently opened shipyard in the Philippines and is now finalising plans regarding future cooperation with local shipbuilders in Saudi Arabia and India.
HHI expects that the cooperation with Skaramangas Shipyards will lead to HII's further expansion in the European market.
"With the memorandum of cooperation with Skaramangas Shipyards, the foundations [have now been] laid for long-term cooperation not only for the Greek market but also for the expansion of cooperation in the EU market and beyond," said Kim Jae‑rak, HHI Global Defence Sales Director.
