The two cruise liners TUI Cruises, the German premium market cruise shipping group, has on order at STX Finland at its Turku yard, will be built there as planned, Finland’s Ministry of Employment and the Economy said in a statement.
The government will inject €15 million in new innovation aid to ensure the construction of the two ships, in addition to a €16 million package of which there was an earlier agreement.
Uncertainty over construction time financing of the two ships had threatened their completion at the Finnish yard and the future of the shipyard itself.
The government also buys the site of the Turku shipyard for €23.5 million, while the shipbuilder’s owner agreed to “inject tens of millions in new capital to the yard,” the ministry said. STX Finland is part of STX Europe, an Oslo based subsidiary of STX Business Group of South Korea.
In addition, TUI Cruises itself agreed to unspecified measures to bring in more flexibility in the financing of the construction of the two ships. The first unit, of 97,000 gross tons, is due to enter service next year and the second ship, of 99,300 gross tons, in 2015.