2:38:57 PM | 8/11/2005
The State-owned Vietnam Shipbuilding Industry Corp (Vinashin) has signed an agreement with Taiwan’s Tong Goen Enterprise (TGE) to set up a container manufacturing factory in northern Hai Duong province in a bid to modernize the country’s shipbuilding industry
This is the first container production factory in Hai Duong province, a Vinashin official said.
The factory, located in Lai Vu Commune of Kim Thanh District, needs an investment of VND396 billion ($25 million), he said. Vietnam’s largest shipbuilder Vinashin will contribute 55% of the total investment capital in the venture, he added.
In the first stage, the plant will turn out 30,000 twenty-foot equivalent units (TEUs) container a year. In the second and third phase, the factory will make more complicated containers such as containers for oil and gas conveyance and containers to carry liquidized products or powdered cement.
The venture, which is expected for operation in 2006, has a lifespan of 30 years.
Vietnam Economic Times