Vinashin to Spend US$200Mln to Develop Central Seaport
Vinashin Business Group plans to spend VND3.2 trillion (US$200 million) on upgrading Cua Viet seaport in central Quang Tri province into a complex with a shipyard, ecotourism facilities, a golf course, and a wharf to accommodate large vessels.
The existing wharf will be upgraded at a cost of VND600 billion to receive 100,000-ton ships, Vinashin said.
From now to 2010, as much as VND1.6 trillion will be set aside for the construction of a 100-ha shipyard in Trieu Phong district that lays to the south of the Cua Viet port. The shipyard is expected to build ships of 70,000 DWT.
The group will also spend VND1 trillion on ecotourism facilities and a golf course.
Vinashin said the blueprint for the project will be drafted and work started very soon.
Vinashin is now the biggest shipbuilder in Vietnam, which is pouring money to upgrade Vietnam’s global shipbuilding capacity from the current 11th position to the fourth in several years to come.
The firm plans to build seven shipyards, six shipbuilding industrial parks and seven shipbuilding industrial complexes throughout Vietnam.
Vinashin expects to attain revenues of US$1 billion this year, up from US$690 million in 2005.
The group will set up a financial leasing company, a securities company, an insurance company, and shipbuilding industrial investment fund to attract domestic and foreign capital sources. (VNA)
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