Germany urges Malaysian shipowners to help rescue troubled shipyards

The German government calls on Malaysia-based Genting Group to provide financial contributions to the shipyard purchased in northern Germany five years ago


BERLIN-The German government on Monday called on Malaysia-based Genting Group to provide financial contributions to the shipyard purchased in northern Germany five years ago.


According to a report by the German news agency dpa, the shipyard MV Werften filed for bankruptcy protection on Monday after being in financial trouble due to the construction of a large cruise ship.

Germany has expressed its willingness to discuss providing a large amount of state assistance to the shipyard to prevent its collapse, which means that the economically depressed northeastern state of Mecklenburg-West Pomerania will lose 1,900 jobs.

However, the spokesperson of the Ministry of Economic Affairs made it clear that it hopes that Genting, which is controlled by Malaysian billionaire Lim Kwok Tai, will contribute to the rescue effort.


Spokesperson Nina Marie Guettler told reporters in Berlin: “The condition is that if we are to talk about 600 million euros (US$678 million) in federal funds, we must make enough money on the owner’s side. Contribution.”

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