Ra In Ho, a South Korean ship lift and transport system developer, has signed a deal with a Russian shipyard to provide it with the world’s largest ship transfer system, the company said Thursday.

The company will provide a 54,000-ton ship transfer system worth about 20 billion won ($17.5 million) to Zvezda Shipyard in the Russian Far East.

Ra In Ho will have full control of the entire process from designing to installing the system, the company said. 

“Our track record of providing a 52,800-ton ship transfer system, previously the world’s largest, to Hyundai Samho Heavy Industries, and cooperation with Hyundai Corp., have helped Ra In Ho successfully secure one of the world’s largest deals once again,” Rainer Sinnreich, the company’s CEO said.

The company said Zvezda Shipyard is expanding as part of Russia’s plan to foster the shipbuilding industry in the Russian Far East and Ra In Ho has been trying to seize opportunities together with Hyundai Corp., a South Korean trading company that has established its presence as a ship and shipbuilding equipment supplier in the Russian market. 

By Park Ga-young (gypark@heraldcorp.com)