Fincantieri-CSL MoU: Italian shipbuilding giant Fincantieri has signed a Memorandum of understanding (MoU) with India’s state owned shipbuilder Cochin Shipyard Limited (CSL), the company announced on Tuesday.
“With this agreement Fincantieri enhances its presence in the country, providing further momentum to the long-standing partnership with the governmental group CSL, which owns facilities both on the East and West coast of India,” Fincantieri said in a statement sent to Defence Star.
The shipbuilder based in Trieste, Italy said it has been following the renewal and expansion program of the Indian Navy’s fleet for some time and considering the country as its strategic market.
“In the past, the group entered into contracts with CSL – to which the Indian Navy awarded the construction of the aircraft carrier Vikrant – for the design and integration of the unit’s engine system, as well as for the supply of complementary services,” said the company.
Talking about its India operations, Fincantieri said it has also delivered the two fleet tankers Deepak and Shakti to the Indian Navy, in addition to the research vessel Sagar Nidhi built for the National Institute of Ocean Technology (NIOT).
Italian shipbuilding giant said its MoU with Cochin Shipyard Limited (CSL) will help both the partners in designing and local manufacturing of new ships for Indian defence market. The MoU will be followed by detailed agreements.
Among other things, Fincantieri-CSL MoU will cover:
1. Design, procurement and local construction of new vessels for the Indian defense market.
2. Local construction and marketing of mechanical products (such as propulsion propellers, shaft lines, stabilization and steering systems, thrusters, azimuthal thrusters).
3. Naval Automation.
4. Ship Repair.
5. Training of Indian personnel and consultancies to be carried out by Fincantieri in the field of design or construction or shipyard upgrade processes.
The company said the MoU will be followed by a series of detailed agreements, outlining the respective roles and the scope of supply from time to time.
“Different areas of the Fincantieri group may benefit from these understandings: the Naval Vessels Division, the Systems and Components Division, as well as Seastema, Vard Marine and Fincantieri India,” added the company.
Fincantieri is one of the world’s largest shipbuilding group with a history of over 230 years that covers construction of over 7,000 vessels.
The company is engaged in construction of naval and offshore vessels, specialised vessels, ferries and mega yachts.
It is also active in ship repairs and conversions, production of systems and mechanical and electrical component equipment, cruise ship interiors solutions, electronic systems and software, infrastructures and maritime constructions and also provides after-sales services.
The Fincantieri Group has 18 shipyards in four continents and employs nearly 20,000 people.