Toronto: Hanwha Ocean Co., a major shipbuilder from South Korea, announced its collaboration with a Canadian shipyard and college as part of its effort to secure a significant submarine project in Canada.
According to Yonhap News Agency, Hanwha Ocean signed a memorandum of understanding (MOU) with Ontario Shipyards to share shipbuilding technology and operational expertise, including ship design, production planning, quality management, and smart shipbuilding systems. Ontario Shipyards, originally established as Heddle Shipyards in 1987, is recognized as one of the largest ship repair and construction companies operating on the Great Lakes.
The MOU aims to assist Ontario Shipyards in regaining its capacity to build large vessels and bolster Canada's naval industry infrastructure. This collaboration aligns with Hanwha Ocean's bid for the Canadian Patrol Submarine Project (CPSP), and the two entities plan to further expand their cooperation.
Additionally, Hanwha Ocean has signed a letter of intent with Ontario-based Mohawk College to create a training center for shipbuilding professionals at Ontario Shipyards. Should Hanwha Ocean secure the CPSP, it plans to invest strategically in the region and enhance industry-academia collaboration with local businesses.
Kim Hee-cheul, CEO of Hanwha Ocean, emphasized the significance of these agreements, stating, "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. We will establish a firm foundation for the successful execution of Canadian naval projects, including the CPSP."
The Hanwha Ocean-led consortium has been shortlisted for the CPSP, which involves the introduction of up to 12 submarines in the 3,000-ton class, valued at an estimated 60 trillion won (US$41.3 billion). Germany's Thyssenkrupp Marine Systems (TKMS) is also a finalist, and both contenders are expected to submit their proposals to the Canadian government by March.