Kazakhstan, South Korea to mull building a shipyard in the Caspian Sea
ALMATY. May 4. Interfax-Kazakhstan - Kazakhstan Engineering and the South Korean STX Offshore Shipbuilding (STXOS) signed a memorandum of cooperation providing for a number of shipbuilding and ship-maintenance projects.
The parties reached the agreement at the second KADEX-2012 international exhibition of arms and military equipment in Astana.
According to the memorandum, "the parties intend to explore the possibility of a joint shipbuilding and ship-repair yard in the Kazakh sector of the Caspian Sea, modernizing a local shipyard, and employing advanced South Korean technologies in the shipbuilding industry," Kazakhstan Engineering said.
National company Kazakhstan Engineering, part of National Welfare Fund Samruk-Kazyna, was organized in the spring of 2003. It comprises 26 industrial organizations, mostly machine-building plants, which used to be under the Soviet defense ministry.
STX Offshore Shipbuilding is a South Korean shipbuilding company, part of STX Corporation, which focuses on such business lines as shipbuilding, making diesel engine for ships, military and industrial plants, energy and electronic equipment.