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Koreans sign up for large Malaysian yard

Kuala Lumpur: Malaysia's Vantech Dockyard (M) Sdn Bhd said on June 23 that it will invest 4.8 billion ringgit (Y130 billion) to construct a large-size shipyard in southern Johor State in a joint venture with two South Korean shipbuilders. The construction of the yard, to be located at a 3.2 million-sqm site in the Tanjung Agas Oil and Gas and Maritime Industrial Park, will start in 2010 for completion by 2013. The Koran partners in the project are Daewoo Shipbuilding & Marine Engineering (DSME) and Handong Shipbuilding.
Vantech also said that it will cooperate with a Korean university to set up an academy on shipbuilding at Tanjung Agas.
The new yard will specialize in large ships weighing more than 100,000 dwt, particularly LNG tankers. It will also have facilities to repair 100 ships per year. Vantech said that it has already received advance bookings from local shipowners for the construction of eight ships. [29/06/09]


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