Australian shipbuilder Austal will open a third shipyard next year after buying the former FBMA Marine plant in the Philippines.
The company has spent AUD 7m ($7.23m) on the site at Balamban in Cebu.
It will invest a further AUD 5m to get it up to speed for operations beginning in the second quarter, subject to orders.
Austal wants to revive its business in ferries and workboats after its orderbook was dented by the strong Australian dollar.
It
