Hong Kong firm joins the Vietnam yard rush

Hong Kong: A Hong Kong foundations contractor, Sam Woo Holdings, has laid out is plans to build a joint venture shipnbuilding and repair yard in Vietnam. The deal with Nah Trang Vinalines Marine will be sealed by the end of the year.

The company announced this month it has entered into a memorandum of understanding with Nah Trang, its Vietnamese ally, for a possible investment in a shipyard in Nha Trang City (pictured).

The shipyard will be spread over a 60-hectare site and will build, modify and repair special-purpose ocean-going vessels and vessels used in offshore engineering projects, according to the company. [20/06/07]