HD Hyundai Heavy Industries announced that it has formally executed a strategic teaming agreement with Croatia’s Iskra Shipyard, establishing an industrial partnership aimed at Croatia’s upcoming Multirole Corvette (MRC) procurement program and broader domestic naval collaboration.
HD HHI press release
The agreement, officially signed on October 1 in Šibenik, establishes a joint framework to support the Croatian Navy’s fleet modernization priorities. Under the partnership, the two shipbuilders will integrate HD Hyundai’s advanced warship design and production capabilities with Iskra Shipyard’s established domestic manufacturing footprint, focusing first on the MRC program as the launchpad for a wider portfolio of surface warship projects.
As part of the collaboration, HD Hyundai Heavy Industries will contribute its advanced engineering capabilities alongside its proven track record grounded in extensive local construction experience. In turn, Iskra Shipyard brings vital local shipyard infrastructure, in-depth familiarity with domestic defense specifications, and active operational hubs along the Adriatic coast.
Beyond the initial corvette procurement, both companies agreed to pursue joint initiatives across fields other than the MRC program. This broader cooperation comes in light of Iskra Shipyard’s recent acquisition of the historic 3.Maj shipyard in Rijeka and HD Hyundai Heavy Industries’ extensive, multi-decade expertise across diverse sectors of the global maritime industry. The combined industrial footprint of the Šibenik and Rijeka facilities, paired with HD Hyundai’s technical depth, provides a foundation for long-term commercial, industrial, and naval shipbuilding synergies across Croatia.
“This agreement marks a pivotal starting point to build a competitive and enduring partnership centered on Croatia’s Multirole Corvette program,” an HD Hyundai representative said. “By combining our naval design, engineering, and construction capabilities with Iskra’s local manufacturing strengths, our goal is to contribute directly to the modernization of the Croatian Navy while progressively expanding our joint naval shipbuilding endeavors.”
HD Hyundai confirmed plans to deepen ties across the Croatian maritime defense ecosystem—engaging domestic suppliers, engineering enterprises, and academic institutions—to establish a resilient, self-sustaining local supply chain to support the program throughout its operational lifecycle.
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