Fincantieri has entered into a memorandum of understanding (MOU) with India's Cochin Shipyard regarding the renewal and expansion of the Indian Navy's fleet of vessels.
The MOU covers cooperation between the two companies in the areas of: design, procurement, and local construction of new vessels for the Indian defence market; local construction and marketing of mechanical products such as propulsion propellers, shaft lines, stabilisation and steering systems, and thrusters; naval automation; ship repair; and training of Indian personnel and consultancies to be carried out by Fincantieri in the field of design or construction or shipyard upgrade processes.
The MOU will be followed by a series of detailed agreements, outlining – from time to time – the respective roles and the scope of supply.
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.