Hyundai signs MOU for localization initiative

Offshore staff

SEOUL, South KoreaHyundai Heavy Industries (HHI) has signed a memorandum of understanding to collaborate on the localization of main equipment and materials for offshore plants with Doosan Heavy Industries & Construction (DHIC) and Center for Creative Economy & Innovation in Ulsan and Gyeongnam.

HHI and DHIC agreed to develop six main items of equipment for offshore units such as FPSOs and tension leg platforms.

HHI will apply DHIC’s flagship power technology of gas turbine generators and heat recovery steam generators to its offshore plants, and the two companies will jointly develop metallic materials for offshore floating structures.

Since forming a task force team that took on the localization of main equipment in September 2014, HHI said it has successfully installed items including pressure vessels, air compressors, and heat exchangers onto offshore plants.

DHIC noted that it has also completed the development of low-temperature cast and forged materials for offshore plants in 2012. It has been striving to secure technology for the localization of high-efficiency large-sized gas turbines’ as the leading company of government’s national research project since 2013.

Kim Sook-hyun, COO of HHI’s Offshore & Engineering Division, said: “With most of the major equipment and materials imported from abroad, our localization initiative will drive our competitiveness forward in the offshore plant business.

“We are also enhancing our efforts to help local partner companies localize more items under the alliance with Center for Creative Economy & Innovation in Ulsan and Gyeongnam.”

02/26/2016

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