AVIC International unit bags 7.5m-euro contract for ferry project

DELTAMARIN, a unit of AVIC International Maritime Holdings Limited (AIMHL), has secured a 7.5 million-euro (S$11.4 million) contract from Finnish firm Rauma Marine Constructions (RMC) to provide services for an LNG-powered shuttle ferry. 

Deltamarin will provide RMC with basic and detail design services for hull, machinery and electrical systems for the LNG-powered shuttle ferry by shipping firm Tallink. This will be over a period of 16 to 18 months. 

The contract is not expected to have a material financial impact on AVIC's financials for the current year ending December, as earnings from the contract will only be recognised progressively.

AVIC International shares closed flat at S$0.147 on Friday.