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Vinashin-Wärtsilä sign engine jv

Vinashin-Wärtsilä sign engine jv

Hanoi: Vietnam Shipbuilding Industry Corporation (Vinashin) and the Wärtsilä Corporation's Swiss subsidiary, have signed a license agreement for the manufacture and sale of Wärtsilä low-speed marine diesel engines in Vietnam. The agreement grants the Vietnamese company the right to manufacture certain types of Wärtsilä modern low-speed engine types between 48 and 82 cm bore size. Wärtsilä Switzerland will provide support during the manufacturing process.
Vinashin chairman and ceo Pham Thanh Binh said, "Through signing this agreement, Vinashin looks forward to a long-term partnership with Wärtsilä and thus together deliver to shipowners modern vessels with high quality and the best engine technologies from Wärtsilä."

The first engine is scheduled for delivery at the beginning of 2010, and the company is slated to produce an annual output of 30 to 40 engines. Wärtsilä itself has expanded its presence in Vietnam with a new branch office today in Hanoi. Although the company has been present in Vietnam since it set up a representative office in Ho Chi Minh City in 1994, it believes that the region is developing into a global shipping hub and requires greater local resources.

"With more than 3000 km of coastline and abundant offshore oil and natural gas resources, Vietnam is a natural participant in the global power and marine industry and Wärtsilä will support and be part of its development," said Clas-Eirik Strand, chairman of the board of Wärtsilä in Vietnam.  [08/05/07]