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Vietnamese jv to manufacture rope

Vietnamese jv to manufacture rope

Hanoi: European maritime equipment manufacturers continue to flood into Vietnam, the next large emerging shipbuilding centre.

The Vinashin Trading and Manufacturing Joint Stock Company (Shinec) on March 21 signed a joint venture contract with the Viking Cordage Company of the Czech Republic to produce ropes for sea going vessels for the first time in Vietnam.

The factory will be built at an investment capital of almost US$5m in the Vinashin-Shinec industrial zone in the northern port city of Hai Phong. It will specialise in making all types of rope from artificial and natural fiber for ships, and fishing nets. The plant is expected to be operational in mid-2008.

This is the second foreign-invested project in the Vinashin-Shinec industrial zone. Earlier, Vinashin signed a US$46m contract with Finland's Mac Gregor firm to produce ship deck equipment. According to Vinashin, the venture will specialize in making marine cranes, hatch covers, container lashing equipments among other maritime products.

Last month a delegation of Danish maritime equipment manufacturers toured Vietnam eager to get a slice of the shipbuilding pie which has come on in leaps and bounds in the past two years.  [22/03/07]