The Viet Nam Shipbuilding Industry Group (Vinashin) has been licensed to manufacture and sell low-speed marine diesel engines with hi-tech machinery from Wartsila Switzerland Ltd.
The Viet Nam Shipbuilding Industry Group (Vinashin) has been licensed to manufacture and sell low-speed marine diesel engines with hi-tech machinery from Wartsila Switzerland Ltd.
The agreement was signed by Vinashin President and Chief Executive Officer Pham Thanh Binh and Wartsila President Martin Wernli in Ha Noi on May 8.
“This is an important turning-point for the Vietnamese shipbuilding industry,” Binh said at the singing ceremony, adding that engine manufacturing will offer Vinashin an opportunity to raise its local content to 80-90 percent.
“With this agreement, Vinashin is welcomed into the Wartsila family of licensees building Wartsila low-speed engines. We look forward to many years of fruitful cooperation,” said Wernli.
Under the agreement, Vinashin has rights to manufacture Wartsila modern engines with cylinder diameters of between 48-82cm. The group targets an annual production of 30-40 engines.
The first engine is scheduled to be delivered at the beginning of 2010.
(Source: VNA)
