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Hyundai Samho heavy industries announced in June 4th, and Russia will star shipyard (Zvezda Shipbuilding) the establishment of marine engineering and project management joint venture Zvezda-Hyundai.

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Modern heavy hand Sanhu Russian Red Star joint venture shipyard
Local time on June 2nd, held in St Petersburg Russia International Economic Forum (SPIEF), and the Red Star heavy Hyundai Samho shipyard signed the agreement will provide technical support, technical expertise and services for Zvezda-Hyundai. Attended the signing ceremony of the modern heavy ship business division president Jia Sanxian (Ka Sam-hyun), the Russian state oil company (Rosneft) CEO Igor Sechin and the South Korean ambassador to Russia Pak Lu wall (Park Ro-byug).
According to the technical support agreement, modern heavy industry in the field of Sanhu ship design, marketing, employee training and provides support for the Zvezda-Hyundai. The modern Samho heavy industries will hold Zvezda-Hyundai of the 49% of the shares, the remaining 51% of the shares by the shipyard all star.

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Hyundai Samho heavy industries said, Zvezda-Hyundai plans to start in Bolshoi near Vladivostok Kamen shipyard aframax tanker from 2018. In May 24th, Zvezda-Hyundai officials visited Hyundai Samho heavy industries, to discuss the ship construction and equipment installation, and ship material and equipment purchase.
Hongxing shipyard and Hyundai Heavy Industries have started cooperation since last year. In September 1st last year, Hongxing shipyard and the Russian state oil company (Rosneft) signed 5 114000 DWT aframax tanker construction contract. These tankers will be powered by LNG, designed by Hyundai Heavy industries.
So far, Hyundai Group has gained from Russia 94 new ship orders, including the Russian state-owned shipowner Sovcomflot in February this year in the modern custom 4 Samho heavy industries 114000 DWT LNG power tanker. An official of the modern Samho heavy industries said, through the establishment of Zvezda-Hyundai, modern Samho heavy industries to get a new source of income, and expand business opportunities in the Russian market.