Region's Largest Maritime Equipment Factory to Be Built in Vietnam
A joint venture to produce maritime equipment will be set up in the northern city of Hai Phong under a contract signed on March 6 between the Vietnam Shipbuilding Industry Corporation (Vinashin) and Finland’s Macgregor Group, state media reported.
The factory’s initial investment of US$16.3 million will increase to US$30 million in the second phase.
The factory is designed to make 16,000 tons of equipment per year and annual capacity will reach 25,000 tons in the next phase, becoming the biggest of its kind in Southeast Asia.
This reflects Vinashin’s effort to raise the ratio of locally-made parts in the country’s shipping industry to 60-70 per cent by 2010.
Besides supplying maritime equipment for Vietnam’s shipbuilding yards, the Cau Kien Industrial Park factory will also export some of its products, Vinashin said.
Vinashin plans to build six shipbuilding industrial parks and seven shipbuilding industrial complexes throughout Vietnam.
It targets revenues of US$1 billion this year, up from US$690 million in 2005. (Labour, VNA)
Vietnamese
