Vinashin starts new shipyard

The mammoth Hai Ha project in northern Vietnam, which covers 15,000ha and includes a large deepwater port, economic zones, a steel mill, a thermo-power plant, an oil refinery, a tourism site, new urban towns, also includes the construction of a new shipyard for Vinashin.

Work on the shipbuilding yard has now started and will cost $500 million. When completed by the end of this year, the yard will build 150,000 ? 320,000 dwt cargo ships. Vinashin plans to pump $1 billion worth of total investment into the shipyard.