The southwestern city of Rauma in Finland has finally completed a deal to purchase the Rauma shipyard, which is currently owned by the struggling Korean shipbuilding company STX. The dockyard will be redeveloped to host a local business park. The city of Rauma and STX Finland have reached agreement to sell STX’s Rauma dockyard for 18 million euros. STX Finland will remain a tenant on part of the property until the end of June to complete two ongoing shipbuilding orders.

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