A joint venture between the Vietnam Shipbuilding Industry Group (Vinashin) and Finland's Macgregor group has been licensed to begin operating in the Vinashin-Shinec industrial zone in the northern port city of Hai Phong.
With a chartered capital of US$5.4 million (51 percent held by Vinashin and the remainder by Macgregor), the joint venture will produce metal components and handling equipment.
The Macgregor-Vinashin maritime equipment Co. Ltd. will also build a US$16.3-million factory to provide cranes and other equipment for shipyards at home and overseas.
When its construction is finished, the factory will be the largest of its kind in Southeast Asia with an annual capacity of 30,000 tonnes of products.
Vinashin said it hopes to raise the rate of local content to 60-70 percent by 2010.
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