Vinashin invests in new shipyard

Viet Nam authorities recently approved a detailed planning of the An Duong Vinashin Shipyard which a total investment of $80 million. The shipyard is to be built on a total area of 70 hectares in Hoang Dong commune, Thuy Nguyen district. This includes over 40 hectares for the shipyard and nearly 20 hectares for a wharf. Vinashin?s Waterworks Shipbuilding Technical Joint Stock Company will act as the investor of the project which is scheduled to be completed by 2009.