ROME, Oct. 27 (Xinhua) -- Italian shipbuilder Fincantieri said Tuesday it has signed a Memorandum of understanding (MoU) with Cochin Shipyard Limited (CSL), a leading shipbuilder in India.

Fincantieri, which is based in Trieste, Italy, said it has a "long-standing partnership with the governmental group CSL, which owns facilities both on the East and West coast of India" and that it considers the Indian market as "strategic."

In the past, the Italian shipbuilder entered into a contract with CSL to design and integrate the engine system of the aircraft carrier Vikrant for the Indian Navy.

The MOU signed Tuesday lays down a framework for cooperation in fields including the design, procurement and local construction of new vessels for the Indian defense market, and the training of Indian personnel and consultancies in design, construction, or shipyard upgrade processes.

With over 230 years of history and more than 7,000 vessels built, Fincantieri now has 18 shipyards operating in four continents and nearly 20,000 employees. Its clients include the world's biggest cruise operators, the Italian and the U.S. Navy, and numerous foreign navies.

Fincantieri in November 2019 celebrated the float out of the second of two cruise ships it built and designed specifically for the Chinese market, the Costa Firenze.

In November 2018, Fincantieri signed a contract to set up a Chinese cruise ship hub in the Baoshan District in Shanghai, while in November 2016, it signed a comprehensive agreement with Huarun Dadong Dockyard (HRDD), the leading Chinese shipyard specialized in ship repair and refitting activities. Enditem

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