Vietnam-Finland JV to Invest into Northern Vietnam
The joint venture between the Vietnam Shipbuilding Industry Group (Vinashin) and Finland’s Macgregor group has been licensed to begin operating in the Vinashin-Shinec industrial zone in the northern port city of Haiphong.
The 51-49 joint venture with chartered capital of VND86.6 billion (US$5.4 million) will produce metal components and handling equipment, said a JV official.
The Vinashin-Macgregor maritime Co. Ltd. will invest US$16.3 million to build a factory to provide cranes and other equipment for shipyards at home and abroad.
Once in place, the factory will be the largest of its kind in Southeast Asia and to produce of 30,000 tones of product each year.
State-run Vinashin targeted to raise the ratio of locally-made parts in the country’s shipping industry to 60-70 per cent by 2010. (SGT)
Vietnamese
