Korean Shipbuilder Considers Project in Khanh Hoa

Tuesday, July 25, 2006
A South Korean ship manufacturer is mulling a project to develop a large-scale shipyard in the coastal central province of Khanh Hoa that should be able to build giant vessels of up to 400,000 DWT, a local official said.

A source from the provincial Service of Planning and Investment said South Korea’s STX Shipbuilding Co., a member of STX Group, has proposed to develop a shipyard costing $500m at Van Phong Bay. The proposal has received preliminary support from the provincial government and its relevant agencies. Nguyen Xuan Long, director of the planning and investment service, said that the province and its agencies were putting more efforts on attracting more foreign investment. Therefore, provincial authorities were asking the central government and the Ministry of Planning and Investment (MPI) to give the green light for the investor to go ahead. If approved, this project will help boost socio-economic development in the province as well as rank Vietnam in the list of the biggest shipbuilders in the world.

An official of the transport ministry, which has prepared the master plan for developing a complex of ports and shipyards in Van Phong Bay, said the project would play an active role in the development of the Van Phong Economic Zone. More details of the project, including the time frame for its construction, have yet to be brought out. Source: Saigon Times

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