Genting HK spends another RM440mil, aims to be most modern shipbuilder

Ambitious plan: The Stralsund shipyard in Germany. MV Werften is the merger of Nordic Yards’ three shipyards in Wismar, Warnemunde and Stralsund, Germany. Managed in Wismar, it will focus on building large new ships.

PETALING JAYA: Leading global leisure and hospitality company Genting Hong Kong Ltd, which has already paid 230.6 million euros (RM1.01bil) for the acquisition of three shipyards in Germany, renamed MV Werften, is putting in a further investment of more than 100 million euros (RM440mil) to focus on making it the most modern shipbuilding group with an output of two Neo-Panamax and one Panamax cruise ships a year.

MV Werften is the merger of Nordic Yards’ three shipyards in Wismar, Warnemunde and Stralsund, Germany. Managed in Wismar, it will focus on building large new ships.