Vantech Dockyard in Malaysia will invest around MYR130bn to build a large shipyard in a joint venture with two South Korean shipbuilders.

Vantech Dockyard, in partnership with Daewoo Shipbuilding & Marine Engineering and Handong Shipbuilding, will jointly build Malaysia’s first fully automated shipyard at the Tanjung Agas Oil and Gas and Maritime Industrial Park in the southern Johor State.

The construction of the shipyard will start in 2010 for completion by 2013.

The new yard will handle LNG tankers weighing over 100,000dwt and will also have the facilities to repair 100 ships a year.