$630M Investment to Boost Vietnam Shipbuilding Industry

Wednesday, November 23, 2005
Vietnam National Shipbuilding Industry Corporation (Vinashin) plans to invest $630 million in a variety of projects to produce components and materials for the industry, in an attempt to improve the local content ratio from 25 percent to 65 percent of components used in the country’s shipbuilding industry, according to a Vietnam Shipping Times report. Under the plan Vinashin will produce rolled steel to build the hulls of ships, manufacture 300-30,000 horsepower diesel engines, steering systems and ship cranes. Locally-made steel will account for 25.6 percent of total steel in ships constructed in Vietnam, while the local content ratio of engines will amount to 23.2 percent, and that of steering systems, 6.3 percent, according to the report. Along with the increase in local content ratio of components used for building ships, the ability of shipbuilding factories to construct ships will have to be improved. Vinashin will invest $107 million in shipyard projects in the northern coastal province of Nam Dinh with the aim of making the province the country’s third largest shipbuilding center after Haiphong and Quang Ninh by 2010. Source: The Vietnam Shipping Times
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

COSCO Delivers Bulker

The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co., Ltd a subsidiary of the Company's 51% owned COSCO Shipyard Group Co.

Navy to Commission Submarine North Dakota

The Navy will commission its newest attack submarine North Dakota, during a ceremony Saturday, Oct. 25, 2014, at Submarine Base New London in Groton, Connecticut.

Offshore

Ezra Bags $70m in Offshore Contracts

Ezra Holdings Limited, a leading contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the Group’s Subsea Services division,

Rederij Groen Takes Delivery of 7-Waves

Rederij Groen’s entire SRSV fleet built by Damen Maaskant Shipyards Stellendam. Dutch offshore services company Rederij Groen has taken delivery of the 7-Waves,

New Oil Field Found in British North Sea

GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1581 sec (6 req/sec)