Wärtsilä and Hyundai Heavy Industries to set up joint venture for dual-fuel engines for LNG-carrier market

Wärtsilä and Hyundai Heavy Industries Co. Ltd (HHI) have signed an agreement to set up a 50/50-owned joint venture in Korea to manufacture dual-fuel engines for LNG (liquefied natural gas) carriers. The total investment in the company will be EUR 58 million, Wärtsilä´s share being EUR 29 million. The name of the company will be Wärtsilä Hyundai Engine Company Ltd and the intended location is South Korea.