Last updated: 02:00 PM ET, Mon July 11 2016

Genting To Invest $110 Million in New Shipbuilding Firm MV Werften

Cruise Line & Cruise Ship | Michael Schottey | July 11, 2016

Genting To Invest $110 Million in New Shipbuilding Firm MV Werften

PHOTO: The Genting Dream. (Photo courtesy of Genting)

Genting Hong Kong has announced the formation of a new company, called MV Werften, which will consist of three shipyards in the German State of Mecklenburg-Vorpommern previously purchased by the company earlier this year.

Tan Sri KT Lim, the Chairman and Chief Executive of the Genting Group, said of the move:

To make MV Werften into one of the world’s most modern and efficient cruise shipyards, we will invest 100 million euros in a thin plate laser welding line, a cabin module factory, a new covered section block building hall, the modernization of manufacturing control systems and new executive and employee offices and facilities.

The new company will focus first on delivering the first of four luxury Crystal River ships in 2017, the first of a series of Crystal Endeavor Class polar expedition yachts in 2018 and the first of a series of Star Cruises Global Class cruise ships by 2020. The planned annual output of MV Werften will be stepped up in future years to eventually build two Neo-Panamax cruise ships and one Panamax cruise vessel.

MV Werften has already has covered docks, fabrication halls and painting shops which will be enhanced with a further investment of $110 million.

Jarmo Laakso has been named the managing director of MV Werften and has 35 years of shipbuilding experience for Royal Caribbean among others. 


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