Vinashin Affiliate to Invest US$57.6M into Central Economic Zone
Nha Trang Ship Industry Company, an affiliate of the state-run Vinashin Business Group, has got a license to invest VND980 billion (US$57.6 million) into infrastructure construction in Van Phong Economic Zone in central Khanh Hoa province.
The firm will develop infrastructure at Nam Cam Ranh Industrial Park (IP) to serve the shipbuilding and repairing industry, engineering, electricity and electronics.
The IP covering 204 hectares in Cam Thinh Dong commune, Cam Ranh township, is the largest IP in the province.
The Nam Cam Ranh IP is expected to become operational by 2011.
Separately, Vinashin’s Cam Ranh shipyard which has a total investment of VND600 billion launched a 20,000-ton ship late 2008.
Khanh Hoa province is now home to five shipyards including Hyundai-Vinashin, Nha Trang, Cam Ranh, Nam Cam Ranh IP and South Korea’s STX. (Vietnam Economic Times, VNA)
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