Long awaited plans to build a large repair facility at Busan Newport are likely to be relaunched with STX seen as the most likely candidate to build the yard.
?The government set up and confirmed a business plan to establish a large repair yard complex at a site behind Busan Newport through private funds in April 2009. Korean repair yards at present can only handle small ships. The recession saw to it that the repair idea was postponed.??Now however STX Pan Ocean vice chairman Lee Jong-chul said recently, "We might bid for the Busan Newport Repair Yard project in a consortium." ??STX expects a significant synergy effect between the repair yard, STX Marine Service and STX Pan Ocean. ??The construction of the repair yard would cost around KRW 340bn ($313m).
?The government set up and confirmed a business plan to establish a large repair yard complex at a site behind Busan Newport through private funds in April 2009. Korean repair yards at present can only handle small ships. The recession saw to it that the repair idea was postponed.??Now however STX Pan Ocean vice chairman Lee Jong-chul said recently, "We might bid for the Busan Newport Repair Yard project in a consortium." ??STX expects a significant synergy effect between the repair yard, STX Marine Service and STX Pan Ocean. ??The construction of the repair yard would cost around KRW 340bn ($313m).