MES-UBI Begins Operations in Vietnam
Mitsui Engineering & Shipbuilding Co., Ltd (MES) and UBI Tower Sole Member Limited (UBI Tower) established the joint venture company named MES-UBI Heavy Industries Company Limited (MES-UBI) which manufactures the pressure vessels installed in the refinery and petrochemical plants with obtaining the Vietnamese government approval dated at April 23, 2014, then MES-UBI started the operation from the beginning of August 2014. On August 1, 2014 in Hanoi, MES-UBI organized the opening ceremony to cerebrate the operation start, inviting the Japanese embassy in Vietnam, Ministry of Investment and Trading in Vietnam, Hai Duong People’s committee and more than 60 companies as the guests.
Vinashin and Songsan to Produce Steel
Vinashin has joined forces with Korea’s Songsan Company to form a joint venture to produce steel structures for shipbuilding. The Songsan-Vinashin JV will invest $35m to build a factory in the northern Hai Duong Province. The steel mill is set to come on stream in the second quarter of 2008. The mill is designed to produce steel structures for shipbuilding yards including Vinashin, replacing imported products in the national industry. The ship maker wants 60 percent of its steel to be sourced locally by 2010 from the current 30-40 percent. Vinashin Group said it needs $2.5b to carry out projects under the strategy of $1b in ship exports to 2010.
