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Work begins on Shinec-Vinashin Industrial complex

Work begins on Shinec-Vinashin Industrial complex

Hanoi: Construction work has begun on the $46.7m Shinec-Vinashin Industrial complex in Thuy Nguyen district in the northern port city of Hai Phong. The complex held a group breaking service yesterday for the 320 hectare property, of which 15 hectares has been allocated to the shipbuilding sector. It will feature a wharf capable of accommodating maritime vessels up to 6,500 tons, office buildings, a trade center, and housing.

The complex will play host to a number of maritime companies such as the $5.4m jv between Vietnam Shipbuilding Industry Group (Vinashin) and Finland's MacGregor group to manufacture metal components and handling equipment. Vinashin owns a 51% majority in the venure named 'The MacGregor-Vinashin Maritime Equipment Company" that will manufacture approximately 30,000tonnes worth of cranes and other equipment for domestic and international customers when running at full capacity by 2010.

The Shinec-Vinashin Industrial complex will also house companies with agricultural, construction, warehouse and trading interests.  [28/11/07]

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