Vietnam Shipbuilding Expansion Moves On

Friday, February 23, 2007
It is being reported that the Vietnamese government has given approval in principle for STX Shipbuilding Co. Ltd of South Korean, to build a $500m shipyard covering 300 hectares in the Van Phong Economic Zone in Vietnam. Vietnam is keen to progress shipbuilding as a national champion and this is the latest development towards her goal of becoming a world-class shipbuilder to rival other countries such as China, South Korea and Japan.

Although there are 'certain formalities' to go through before final approval, it is almost certain that there are just purely formalities and the construction of the new shipyard will go ahead, as Prime Minister Nguyen Tan Dung has instructed state agencies 'to help' the company with them. It is expected the yard will have a capacity of between 900,000 and 2.5 million Dwt between the first and second phases of construction. Other projects mooted for the Van Phong Economic Zone by foreign investors include:

A 2,640MW thermal power plant, costing $4 billion, by Japanese Sumitomo Group 1 million ton per annum petrochemical factory costing $1.2 billion by SP Chemicals of Singapore A $1.5 billion steel complex, capacity of 4-8 million tons of steel a year by South Korea's POSCO. The new shipyard will we located at Khanh Hoa, just north of the existing VInashin-Hyundai shipyard. Source: Shipping Times

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | 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: 0.1140 sec (9 req/sec)