Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal held bilateral meetings in Busan, South Korea, with maritime institutions, shipbuilders, and shipping companies, as well as Cyprus’ Shipping Deputy Minister, according to the Ministry of Ports, Shipping and Waterways.
The discussions covered shipbuilding investments, marine equipment manufacturing, maritime financing, port development, shipping, green technology, and sustainable ship recycling. During the meetings, Cyprus reaffirmed its support for India’s bid to gain European Union recognition for eligible ship-recycling facilities, and noted that about 25 leading Cypriot companies are expected to visit India in November.
Discussions with South Korean firms included potential manufacturing partnerships for large shipbuilding blocks, LNG and LPG cargo tanks, and cryogenic structures. The Indian delegation also invited Korean maritime financiers and shipping lines to explore opportunities in India’s growing maritime sector, port infrastructure, and vessel flagging.
Source
Press Information Bureau, Government of India, “India widens its Maritime Partnerships in Busan, from Shipbuilding Supply Chains to Ship Recycling”. Read the original release.
Summary of an official release for general information only. Not investment advice. Read the original source before acting on any information.
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