Hanoi: A $5.4m metal components and handling equipment joint venture between state-run Vietnam Shipbuilding Industry Group (Vinashin) and Finnish engineering specialist the MacGregor group has received a license to start its operations at the Vihashin-Shinec industrial zone (VSIZ).
Vinashin owns a 51% majority in the venure named 'The MacGregor-Vinashin Maritime Equipment Company". Under the terms of the jv, the companies will invest $16.3m to build a factory at VSIZ to manufacture approximately 30,000tonnes worth of cranes and other equipment for domestic and international customers when running at full capacity by 2010. [18/09/07]
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