Vinashin opens new yard

The first phase of the Vietnam Shipbuilding Industry Corporation (Vinashin)?s $6.9 million shipyard was formally opened in the central Phu Yen province. The six-hectare plant, located in Tuy Hoa city?s Phu Lam ward, has already begun building eight 200 tonne tugboats, a $3.8 million dredger and four 600 hp fishing vessels. When completed, the yard will be capable of building ships of 5,000 tonnes or more from 2008.