Genting Hong Kong has bought 50 percent of Lloyd Werft, a shipyard based in Bremerhaven, Germany. The deal will see Genting invest 17.5 million euro in the yard.

The investment into the yard will allow the facility to expand, according to reports, building a new quay for shipbuilding. In addition, the yard will be hiring a significant amount of new workers.

Recently, Genting signed an agreement with Lloyd Werft for the construction of three new ships for Crystal Cruises. It is believed the investment in the yard calls for the facility’s expansion and five ship orders.