Vinashin to Build Shipyard

Vietnam’s largest shipbuilder, Vinashin, has been greenlighted to build a $81m shipyard in the northern port city of Hai Phong, according to Vietnam News Agency. Work on the Vinashin An Duong in Thuy Nguyen district is due to begin late this year and slated for completion by 2009. Vinashin is also set to spend $94m on rebuilding the Cua Viet seaport in the central Quang Tri province. It will turn Cua Viet into a 300-400 ha port complex with a shipyard, ecotourism facilities, a golf course, and a wharf to accommodate 100,000-ton ships. Established in 1996, state-run Vinashin (Vietnam National Shipbuilding Corporation) and its 20 Source: VNA