Construction begins on Yen Hung shipyard

Vinashin breaks ground on the US$281 million Yen Hung Shipbuilding Complex in the north-eastern province of Quang Ninh.

Pha Rung Shipyard under the Viet Nam Shipbuilding Industry Group (Vinashin) began construction of the Yen Hung Shipbuilding complex in Dong Bai Industrial Complex in the northeastern province of Quang Ninh. Covering 400h hectares, the VND4.5 trillion (US$281 million) project will feature a shipyard, an auxiliary and repair facility and a ship engine factory. The 214-hectare Yen Hung shipyard will cost VND1.46 trillion (US$91 million). It is expected to build between 10-16 vessels of 70,000 DWT a year once operational in 2012. After that, the shipyard may be expanded to build larger ships of up to 150,000DWT. The VND1.49 trillion (US$93 million) Yen Hung repair and auxiliary facility hopes to be operational by the end of next year. It is expected to repair between 20-40 vessels of 50,000 DWT a year. The Vinashin-Man-Pha Rung factory is also scheduled to be finished by late 2009. A large portion of its total investment capital of VND1.5 trillion (US$93.7 million) will be spent on modern technology. It is hoped that the factory will produce around 40 engines a year.
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