Finland approves the support of Turku shipyard

03 Feb 2010

Turku Shipyard, STX Europe’s main facility in Finland, will be receiving a government subsidy

The Finnish government has approved a 500 million Euro subsidy package to STX's Turku shipyard, as proposed by an economy ministry working group.

According to Minister of Economic Affairs Mauri Pekkarinen, the shipbuilding sector is of such importance to Finland that there is no other alternative but to secure its future. The measures include innovation support, financing as well as support for investments in vessels designed for less impact on the environment. The government also talks about ordering state-owned vessels earlier than originally planned. On the order list are four support and transport vessels, for which no funds have been allocated in this year’s budget. The South Korean shipbuilder's Turku yard is due to deliver its last order, a cruiseship for Royal Caribbean International, in November.

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