Vietnam's largest shipbuilder, Vinashin, has been greenlighted to build a VND1.3 trillion (US$81 million) shipyard in the northern port city of Hai Phong, according to Vietnam News Agency.
Work on the 70-ha Vinashin An Duong in Thuy Nguyen district is due to begin late this year and slated for completion by 2009.
The complex will house a 40-ha factory and 20-ha wharf.
Vinashin is also set to spend VND1.5 trillion (US$94 million) on rebuilding the Cua Viet seaport in the central Quang Tri province.
It will turn Cua Viet into a 300-400 ha port complex with a shipyard, ecotourism facilities, a golf course, and a wharf to accommodate 100,000-ton ships.
Established in 1996, state-run Vinashin (Vietnam National Shipbuilding Corporation) and its 20 subsidiaries aim to transform Vietnam into the worlds 11th largest shipbuilder, four spots up higher than its current standing, in the near future.
They aim to earn revenues of $1 billion this year, up from $690 million in 2005. |
