New Major Shipyard To Be Formed In Hong Kong

A new major shipyard, Euroasia, is to be formed in Hong Kong between the C.Y. Tung Group, Chung Wah and A & P Appledore International Ltd. on Tsing Yi Island.

Euroasia will incorporate the ship repair business of the Overseas Shipyard Corporation, which has been successfully d o c k i ng v e s s e l s w i t h i n the C.Y. Tung Group for some years.

C h u n g Wah has r e c e n t ly emerged as one of Southeast Asia's leading shipbuilders, and has recently constructed one of the world's largest tugs f o r United Towing (18,000 bhp, with a bollard pull of 160 tons) and a fleet of nine patrol boats for the Hong Kong Government.

A & P Appledore, one of the world's foremost shipyard consultants and operating groups, has been substantially involved in the startup of the Hyundai and Daewoo Yards in Korea, as well as the Promet Yard in Singapore.

APA are also managers of the successful Neorion Ship Repair Yard in Greece.

The Euroasia Yard will begin ship repair operations in April of this year. The yard will be able to drydock vessels up to 80,000 dwt. The yard will also undertake new construction of ships of smaller sizes and specialized craft such as container feeder ships, patrol boats, supply boats, fireboats, fishing vessels, etc., catering to the growing demand in Southeast Asia. Vessels up to 16,000 dwt will be built. The yard has a steel capacity of 18,000 tons per year. The complex will also be involved in other marine-orientated industrial activities, including offshore construction as well as structural steel and pipe manufacture.

Total cost of the project will be in the vicinity of HKD240 million.

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