Wärtsilä has signed an agreement with Zhenjiang CME Ltd, a subsidiary of China State Shipbuilding Corporation (CSSC), to begin the manufacture of controllable pitch propellers (CP propellers) at the two companies' joint venture unit, Wärtsilä CME Zhenjiang Propeller Co Ltd, located in Zhenjiang, Jiangsu province. The inauguration of the new factory and the first deliveries are planned for the second quarter 2011. Wärtsilä CME Zhenjiang Propeller Co Ltd will invest $16.4m in a state-of-the-art facility for manufacturing CP propellers. The investment includes the construction of a new 8,000 m2 factory at the same location as the existing fixed pitch propellers (FP Propellers) factory.