[ HHI in Coop Agreement with Russian Institute ]

Hyundai Heavy Industries (HHI) will strengthen its specialty shipbuild
ing operations under a technological tie-up with Krylov Shipbuilding R
esearch Institute of Russia.
Under the agreement, Krylov - the world’s largest shipbuilding and ma
rine research institute - will cooperate with the Korean company in co
nduction core research and development projects.
HHI indicated that it received orders worth US$440million this month f
rom foreign owners to build 11 ships. The company currently has orders
in hand for 110ships worth more than US$6billion. Ship deliveries thi
s year will reach 58, an increase of 32 percent in volume compared to
a year earlier, the company said.