First Mekong Delta yard under construction

Hanoi: Vietnam has started building its first shipyard in the Mekong Delta region at a cost of VND1.7 trillion, or $106 million, to boost local industries, the government said Wednesday.

Prime Minister Nguyen Tan Dung presided over a groundbreaking ceremony held in Hau Giang province, in the delta region, on April 30 at the proposed shipyard, which is located 200 kilometers west from Ho Chi Minh City.

State-owned Vinashin, or Vietnam Shipbuilding Industry Corp., plans to build 70,000-dwt vessels in the shipyard, which should be operational by 2010 and help tackle the state builder's enormous $10bn plus backlog of orders.  [02/05/07]