STX eyes Vietnam mega yard

Seoul: South Korean STX Shipbuilding is in talks with Vietnamese authorities over construction of what would be the largest shipyard in southeast Asia, to be located near the coastal resort town of Nha Trang. At 3.5m sq mtr, the projected site would even dwarf Hanjin Heavy's recent Philippine expansion at Subic Bay. Sister firm STX Engine signed a joint venture with Vietnam Shipbuilding Industry Corp (Vinashin) on the construction of a diesel engine manufacturing factory in Vietnam this February. STX Shipbuilding is also likely to soon build a block assembly plant in Shandong province, China.  [05/07/06]