Genting HK to invest EUR 100 million to upgrade shipyards

Monday 11th of July 2016

Luxury cruise operator Genting Hong Kong said it is investing more than EUR 100 million (US$110.6 million) in its German shipyard, MV Werften to focus on building new ships.

The company, which is a unit of Malaysia’s Genting, mostly operates cruise ships with a focus on Chinese cruise passengers.

Delivery of the vessels is scheduled for 2019 and 2020, aimed at the growing Chinese market.

The company will run the three shipyards that build large ships under MV Werften. Lloyd Werft, acquired in September by Genting Hong Kong, meanwhile will focus on repairs, conversion, and building mega yachts.

“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,” Genting Group chairman and chief executive Tan Sri Lim Kok Thay.

In May, Genting signed an order for ten ships with the Lloyd Werft Group. The order includes two mega cruise ships for Star Cruises and eight vessels for Crystal Cruises.

"We are focused on delivering a world-class vacation experience for Chinese cruise passengers," said Genting chairman Lim Kok Thay.

Investment Cruise Shipyard