Officials of Hanwha Ocean, Ontario Shipyards and Mohawk College pose for a photo after signing a letter of intent in Toronto, Canada, Wednesday. Courtesy of Hanwha Ocean
Hanwha Ocean, a major shipbuilder in Korea, said Thursday it has struck cooperative agreements with a shipyard and a college in Canada amid its ongoing bid to win the country's submarine project.
The company signed a memorandum of understanding (MOU) with Ontario Shipyards on Wednesday (Canadian time) to provide shipbuilding technology and operational know-how, including ship design, production planning, quality management and smart shipbuilding systems, according to Hanwha Ocean.
Ontario Shipyards, established as Heddle Shipyards in 1987, is one of the largest ship repair and construction companies operating on the Great Lakes.
Through the MOU, Hanwha Ocean said it will support Ontario in restoring its capabilities to build large vessels and strengthening the foundation of Canada's naval industry.
The two companies plan to expand their cooperation in line with Hanwha Ocean's bid for the Canadian Patrol Submarine Project (CPSP).
Hanwha Ocean also reached a letter of intent with Ontario-based Mohawk College to establish a training center for shipbuilding professionals at Ontario Shipyards.
If Hanwha Ocean wins the CPSP, the company plans to make strategic investments in the region and expand industry-academia cooperation with local firms.
"The two commitments made today represent the future of Hanwha Ocean and Ontario Shipyards and serve as an opportunity to further deepen ties between Canada and Korea," Kim Hee-cheul, chief executive officer (CEO) of Hanwha Ocean, said. "We will establish a firm foundation for the successful execution of Canadian naval projects, including the CPSP."
A Hanwha Ocean-led consortium has been shortlisted for the CPSP, aimed at introducing up to 12 submarines in the 3,000-ton class, with an estimated value of 60 trillion won ($41.3 billion), alongside Germany's Thyssenkrupp Marine Systems (TKMS).
Source: Korea Times News
