STX eyes Myanmar investment

 

Seoul: President Thein Sein of Myanmar paid a visit to STX Offshore & Shipbuilding's Jinhae shipyard in South Korea and had a meeting with chairman Kang Duk-Soo of STX Group yesterday. 
STX has an extensive global network of yards including a footprint in southeast Asia, via a couple of yards in Vietnam it took on when it bought out Aker Yards four years ago. 
As Myanmar opens up, its natural resources and cheap labour have led plenty to eye it as a place to set up business. For STX, despite a heavy debt burden at present, a yard investment in Myanmar is a distinct possibility.  [11/10/12]

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