S.Korea STX to build $1 bln shipyard in Russia

SEOUL, June 20 Sun Jun 19, 2011 8:43pm EDT

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SEOUL, June 20 (Reuters) - South Korea's STX Corp said on Monday it had signed a preliminary agreement with Russia's state-run United Shipbuilding Corp to build a new shipyard in Russia worth $1 billion.

The South Korean firm said in a statement that it was also in talks to build shipyards in the United Arab Emirates and Mexico. (Reporting by Miyoung Kim; Editing by Jonathan Hopfner)

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