HD Hyundai Heavy begins project to build 4 warships for Peruvian Navy

SEOUL, Jan. 12 (Yonhap) -- HD Hyundai Heavy Industries Co., a major South Korean shipbuilder, said Sunday it has officially begun its joint project with Peru's state-owned shipyard to build four warships for the Peruvian Navy.

HD Hyundai Heavy and SIMA Peru S.A. will cooperate for the 640.6 billion-won (US$434.4 million) project to deliver the warships to the Peruvian Navy successively from next year, according to the Korean company.

The Korean shipbuilder said it will share its advanced technologies and experience with SIMA for the project. The warships will be constructed at SIMA's shipyard in Peru.

"We will strive to successfully implement this project based on our technology and mutual trust so that defense cooperation between the two countries can be further strengthened," said Joo Won-ho, chief operating officer at the naval and special ship business unit of HD Hyundai Heavy, during a groundbreaking ceremony of the project.

Peruvian President Dina Boluarte said the project marks an important milestone in the history of the country's shipbuilding industry, adding it will contribute to the country's economic growth, as well as the modernization of its navy.

Last year, HD Hyundai Heavy also signed a memorandum of understanding with SIMA to jointly develop a submarine for the Peruvian Navy.

nyway@yna.co.kr
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