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.