Vinashin to Build New Shipyard Complex in Southern Vietnam
Vietnam’s largest shipbuilder Vinashin has received permission from the Government to invest $18 million into building a shipbuilding complex in the Mekong Delta province of Hau Giang, local media quoted the Prime Minister’s decision as saying.
The general director of Vinashin has sent a document to the Hau Giang Province People’s Committee, the governing body, requesting 170ha of land for the complex in Hau Giang Industrial Park, including 120-ha of factories and 30-ha for workers accommodation.
The construction of the complex is slated to commence in 2006 and to be completed in 2009.
Once completed, the complex will be capable of building and repairing 10,000-DWT ships.
Vinashin plans to invest US$3 billion in 10 years until 2015 to develop the shipbuilding and supporting industries, turning itself one of the largest shipbuilders in the world.
With Vinashin’s vast investments, Vietnam has become the world’s 11th largest shipbuilder.
Vinashin, or Vietnam Shipbuilding Industry Corp. in full, targets at US$1 billion revenues this year.
Last year, the State-backed corporation recorded roughly US$690 million in revenue, including US$491 million from building cargo vessels for domestic and foreign companies.
Vietnam Economic Times
Vietnamese
