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Aker heads into Vietnam

Aker heads into Vietnam

Singapore: Vietnamese shipbuilding gained another huge fillip yesterday. European leader Aker Yards and Singapore-based Amanda Group are establishing a shipyard in the form of a joint venture in Vung Tau in Vietnam, where Norway's Aker Yards will own 70%. The shipyard will produce its first vessel in 2009, and have a production capacity of three to four vessels per year.

"The new yard in Vietnam will strengthen Aker Yards ability to serve its international customers in the region," the group said in a statement. "Aker Yards will invest $16 million over a period of three years. The yard will deliver the first vessel in 2009, and will in full operation have an annual capacity of 3 to 4 vessels, dependent of vessel type and size."

By citing the yard at Vung Tau, Aker is moving into the centre of Vietnam's growing offshore arena.

The Norwegian group employs about 20,000 people and has 17 shipyards located in Brazil, Finland, France, Germany, Norway, Romania and Ukraine. [12/01/07]