A Guam-based firm has received a 40-year lease from the Northern Marianas government to develop a shipyard on Saipan to serve commercial craft, the Saipan Tribune reports.
The Marianas Shipyard, which is owned by the same firm that operates the Guam Shipyard, involved an initial investment of about $5 million. The new facility, which will be in the Puerto Rico area near Saipan's commercial dock, is expected to be operational in nine to 12 months.
About 50 to 70 people are expected to be hired in the initial phase of the shipyard's development, the newspaper said.
Guam Shipyard initially expressed interest in developing a Saipan facility three years ago.
The Marianas Shipyard, which is owned by the same firm that operates the Guam Shipyard, involved an initial investment of about $5 million. The new facility, which will be in the Puerto Rico area near Saipan's commercial dock, is expected to be operational in nine to 12 months.
About 50 to 70 people are expected to be hired in the initial phase of the shipyard's development, the newspaper said.
Guam Shipyard initially expressed interest in developing a Saipan facility three years ago.