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Hanwha Ocean, one of South Korea’s “Big Three” shipbuilders, has established a new engineering center in India to strengthen its position in the fast-growing offshore plant market. (Image from LinkedIn channels)
SEOUL, July 31 (Korea Bizwire) — South Korea’s Hanwha Ocean, one of the nation’s “Big Three” shipbuilders, has opened a new engineering center in India to bolster its competitiveness in the rapidly expanding offshore plant market.
According to industry sources on Thursday, Hanwha Ocean’s Offshore Division officially inaugurated the Hanwha Ocean Global Engineering Center India on July 27 in Noida, an industrial hub near New Delhi. The move comes as global demand surges for offshore energy infrastructure—particularly FPSOs (Floating Production Storage and Offloading units) and FLNGs (Floating Liquefied Natural Gas facilities)—with the market projected to grow to $18 billion (₩25 trillion) by 2029.
The new center will focus on detailed engineering design for topside structures used in offshore platforms, aiming to strengthen the company’s capabilities in key project execution.
Noida was chosen for its proximity to India’s capital and its rich pool of engineering talent and infrastructure, which has made it a favored location for global engineering firms.
Hanwha emphasized that the new center is not connected to any plans to acquire local shipyards or build commercial vessels in India, but rather to enhance the company’s core design operations supporting existing production bases in Geoje, South Korea, and Singapore.
The strategic expansion underscores Hanwha Ocean’s ambition to secure a stronger foothold in offshore energy markets across regions such as Brazil, Guyana, and West Africa, where demand for floating offshore production systems is rapidly accelerating.
M. H. Lee (mhlee@koreabizwire.com)
