Minister Hardeep Singh Puri visits Hanwha Ocean’s shipbuilding facility in South Korea

Hardeep Singh Puri, Minister of Petroleum and Natural Gas, visited today the sprawling shipbuilding facility of Hanwha Ocean in Geoje, South Korea.

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The visit marks a key highlight of the Minister’s ongoing engagements in the Republic of Korea from 13-15 November 2025, aimed at deepening maritime cooperation and expanding opportunities in shipbuilding, fleet development and energy transportation. These engagements are part of India's broader efforts under the Maritime Amrit Kaal Vision 2047, which seeks to substantially scale up India’s commercial fleet capacity, enhance domestic shipbuilding infrastructure and improve global competitiveness across ship operations, maritime engineering and allied sectors.

During the visit to Hanwha Ocean, the Minister was briefed on the company’s shipbuilding capabilities, advanced vessel construction processes and innovation in maritime technologies. He underscored that the strong performance of the Indian economy, among the fastest-growing globally, combined with the rapid expansion of India’s energy sector, creates significant opportunities for collaboration. Puri stated that India’s energy PSUs spend approximately USD 5-8 billion annually on freight, and have an immediate requirement of nearly 59 vessels. This presents a huge opportunity for global leaders such as Hanwha Ocean to partner with India in building these vessels domestically.