HHI signs MOU for block shop

Hyundai Heavy Industries and Pohang City have signed a MOU for building a block shop at a cost of $172 million. The location of the 240 acre site is near Pohang New Port and the first stage will involve developing 24 acres requiring an investment of $26 million. When completed, the block shop will employ some 6,000 workers and will substantially increase the yards output.