Tsuneishi to Invest in Indonesia Shipyard Business
Japanese shipbuilding and maritime transport company Tsuneishi Holdings will invest up to $40 million to open ship repair services in Indonesia amid increasing efforts by the government to boost the archipelago's maritime industry, reports Jakarta Globe.
Yasuharu Fushimi, chairman and president at Tsuneishi Holdins, said in a statement: "We see a big potential in Indonesia's shipping industry. We've estimated that there's a potential of about 3,293 ships per year for the ship repair service."
Tsuneishi's venture into Indonesia is estimated to create up to 1,000 jobs, says the statement.
Fushimi said that Tsuneishi will enter the ship repair service in Indonesia for the first phase, before entering the shipping industry in the second phase. However, he didn't disclose a specific schedule for both plans.
With a consolidated revenue of 284 billion yen ($2.3 billion) in 2013, Hiroshima-based Tsuneishi Holdings is the seventh-biggest shipping firm in Japan with presence in the Philippines, China and Paraguay.
