• Most Popular
  • Most Shared

S.Korea STX says to build shipyard in Azerbaijan

Thu May 22, 2008 8:57pm EDT

SEOUL, May 23 (Reuters) - South Korea's STX Group said on Friday it had agreed to build a $430 million shipyard in Azerbaijan with local partners.

STX said in a statement that the group would hold a 25 percent stake in the shipyard and Azeri state oil company Socar would own 65 percent, with the remainder to be held by an Azeri state investment firm.

STX said the dockyard would be completed by 2011. (Reporting by Cheon Jong-woo; Editing by Jonathan Hopfner)



More from Reuters

Photo

U.S. probing if al Qaeda linked to airplane incident

WASHINGTON (Reuters) - The United States is investigating whether al Qaeda was involved in a Christmas Day attempt to blow up a passenger jet, but there is no early evidence the Nigerian suspect in the case was part of a larger plot, the U.S. homeland security chief said on Sunday. | Video

» More Top News
A Delta Airbus 330 airliner sits on a runway at Detroit Metropolitan Airport in Romulus, Michigan in this video grab made December 25, 2009. Credit: REUTERS/WDIV TV/Handout

The battle in mid-air

The attraction of bombing airliners means the aviation industry has to be constantly vigilant in its fight against attackers.  Full Article 

U.S.
A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
Political Risk in 2010:

Don't say we didn't warn you

With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

Global Markets