The Saigon Shipbuilding and Maritime Industry Company
(Saigon Shipmarin) signed a contract with Japan
's Kanematsu Corp.
to build two 6,500-tonne cargo vessels. These are the first cargo vessels that Saigon Shipmarin, a member of the Viet Nam Shipbuilding Industry Corporation (Vinashin), has built for export. The first vessel is expected to be handed over in March 2007 and the second, in July. The company has invested over VND 300 billion (over US $18 million) to expand its production scale, train technical workers, and raise its capacity to build and repair 10,000-12,500 tonne ships. It is also producing two 6,800-tonne vessels under a contract with the Satraser Trade and Maritime Service Co.(Source: Nhan Dan)