Japanese Will Renovate Closed Texas Shipyard
Tatsumi Texas, the U.S. subsidiary of a Japanese marine services company, will spend about $30 million to renovate the former Todd Shipyard Fabrication facility on Pelican Island.
The facility will provide marine terminal and transportation services to Texas Copper Corp., an affiliate of Mitsubishi Metals Co., and other companies on the Texas coast. The unit of Tatsumi Shokai Co. also will construct barges at the facility.
The facility will offload ore for the Texas Copper smelter, store it on the island and transport it on barges to the smelter.
Todd Shipyard Corp., which has been operating under Chapter 11 bankruptcy protection since 1987, announced last week that it will close the Pelican Island shipyards, where up to 550 workers had been employed at one time.
