[Vnbiz] STX Confirms Shipyard Construction in Vietnam

[Tai Phan]

  STX Confirms Shipyard Construction in Vietnam   STX Group's construction
of a shipbuilding yard in Vietnam has been confirmed.

STX Group announced on February 1 that the Vietnamese government has
recently approved of STX's plan to construct an offshore production base and
that the company plans to invest $150.00 million by 2015. The company also
mentioned that collaboration with Vietnam's state-run company is in
promotion.

This event will allow STX Group another overseas production base aside from
the large-sized shipbuilding yard currently being constructed in Dalian of
China.

Meanwhile, although Vietnam's local press had reported that STX Group is to
invest a total of $500 million henceforth in the shipbuilding yard
construction, STX Group said that the local press has exaggerated a bit in
some aspects and specifications concerning the investment are to be
carefully examined in the future.

[Min-jeong Lee / KHS]



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