Finnish shipbuilder Meyer Turku is more than doubling its investments to EUR 185 million (USD 220.6 million) from the previously planned EUR 75 million.
The new investments include a new plate cutting line, a new profile cutting line and a new panel line to the steel halls of the shipyard.
These new investments will be ready by end of 2018/start of 2019 and will boost the steel production of the shipyard in order to fulfil the record breaking order book reaching to 2024, Meyer Turku said.
“We are rebuilding Turku shipyard into a modern ship assembly factory. After these investments we will have one of the world’s most modern steel productions that will enable the ramp-up of our production,” Mika Heiskanen, Head of steel production of Meyer Turku, said.
The shipbuilder’s earlier investment package of EUR 75 million, unveiled in August 2016, included a new steel storage and pre-treatment facility, which were expected to increase the steel pre-treatment capacity, improve dimensional accuracy and increase productivity, the shipbuilder informed at the time.