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Marine Log

February 27, 2007

Approval for STX Vietnam yard project

Vietnam's state controlled Vietnam News Agency reports that the Prime Minister has approved a project that will see Korea's STX Shipbuilding Co. Ltd. build a shipyard in the Van Phong economic zone in the central province of Khanh Hoa.

According to the head of the economic zone's Management Board, Nguyen Trong Hoa, the shipyard will be the largest in the region with an initial investment capital of 500 million USD.

The yard will be build on a 300 hectare site in southern Van Phong port. In the first phase of the project, it will be capable of building 15 ships with a total capacity of about 900,000 DWT.

The shipyard will be capable of building 25 ships with a combined capacity of 2.5 million DWT when the second phase of the project is completed.

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