The State-backed Vietnam Shipbuilding Industry Corporation (Vinashin), the largest shipbuilder in Vietnam, yesterday started building its largest shipyard in Southern Nhon Trach district, southern Dong Nai province.
The shipyard, costing nearly VND600 billion (US$38 million), will build ships for special purposes and equipment for other shipyards in the country.
When completed, the shipyard will be able to make and repair container vessels, oil tankers and navy ships of 20,000 DWT.
“Apart from supplying local shipping firms and military units, Vinashin will export its ships,” a corporate official said.
In the initial phase until 2008, the shipyard will construct and repair ships of up to 15,000 DWT and supply ship parts for local shipbuilding companies, he said.
In an attempt to raise the ratio of locally sourced parts in its products to 60 per cent by 2010, Vinashin has built many shipyard complexes nationwide in Haiphong, Hai Duong, Nam Dinh in the north, Quang Ngai in the central region, Ba Ria-Vung Tau and Dong Nai in the south.
With its recent vast investment, Vinashin has made Vietnam the world’s 11th largest shipbuilder.
The State-run corporation has introduced plans to invest US$3 billion to upgrade its existing shipyards and build new shipyards from now to 2015.
Vinashin, set up in 1995, targets US$1 billion in revenues this year, up from last year’s roughly US$690 million.
VNA
Vietnamese
