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Norway to support yard sector with USD 80 million

The Norwegian government has decided to inject around USD 80 million into the country's shipyard industry, with a special focus on offshore service yards. The shipyards' orderbooks look set to dwindle after 2016, which is one of the reasons for the fresh support.

Norway's shipyards are not in the middle of a crisis, says Norwegian minister of business Monica Mæland, but they are still struggling enough to warrant state aid in the form of around USD 80 million in the coming years, reports e24.no.

The country's shipyards employ around 25,000 people, and the 2016 orderbooks look solid with ships being delivered for a total USD 2.1 billion.

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