Japan Shipbuilders Ramping Up Investment to Double Output

Tokyo, Oct. 26 (Jiji Press)--Japanese shipbuilders are stepping up capital investment in shipyards across the country as part of the government's target of doubling domestic shipbuilding volume, with the overall amount on track to exceed 1 trillion yen.

A total of 900 billion yen in public- and private-sector investments have already been decided, including for the introduction of large cranes and the restoration of a dock damaged by an earthquake.

Shipbuilders are eager to make investments. At some shipyards, output is expected to more than double.

Imabari Shipbuilding Co., Japan's largest shipbuilder, plans to introduce jib cranes capable of lifting heavy loads and robots to increase steel plate-welding capacity at facilities including its Marugame Headquarters in the city of Marugame, Kagawa Prefecture, western Japan, and its Saijo Shipyard in the city of Saijo in neighboring Ehime Prefecture.

The transport ministry has decided to provide 113.8 billion yen in subsidies to the Imabari Shipbuilding group through a fund for revitalizing the shipbuilding industry, the largest allocation from the fund. Total investments in the group are expected to reach around 300 billion yen.

[Copyright The Jiji Press, Ltd.]