Daewoo expanding facilities

Plans are underway for Daewoo Shipbuilding to invest in facility expansion which includes the installation of a sea crane and building new quays. The planned major investment is considered to be essential for the foundations of achieving Daewoo?s mid-term strategic objectives.

Firstly, the construction of a launching barge started last July and is nearing completion. This will increase productivity and will allow the construction of a broad range of vessel types at the Neutae area. Secondly, another sea crane is being built and will be completed next year. Thirdly, the construction work for N quay will continue until April 2008. The new quay will be used exclusively for large LNG carriers and enable the shipbuilder to increase effectiveness of all other quays.

Some heavy machinery and equipment will also be put into the production phase to deal with increased output. Not only two 1,000 ton and two 500 ton transporters for super blocks, but the G2 quay at Neutae for mooring rigs is expected to be installed.

In addition, the construction of the Neutae Production Centre is to be completed by the end of February.