Austal nears completion of luxury yacht

Australian shipbuild Austal Shipyard, based in Western Australia, is nearing completion of a new US29.25 million luxury yacht. This first yacht that Austal has built in four years, following a disastrous fall out with Australian golfer, Greg Norman. According to The Australian newspaper, Austal lost US$16.45 million after building a yacht for Mr Norman, who then demanded changes during its construction, leading to a large cost blowout.