STX to Build Vietnam Shipyard

The Vietnamese Prime Minister has approved a project of the STX Shipbuilding Co Ltd of South Korea to build a shipyard in the Van Phong economic zone in the central province of Khanh Hoa, said the Asia Pulse

According to the head of the zone's Management Board, Nguyen Trong Hoa, the shipyard will be the largest in the region with an initial investment capital of $500m. The shipyard will be built in Van Phong Port. In the first phase of the project, the port will be capable of building 15 ships with a total capacity of about 900,000 DWT. Source: Asia Pulse