Finland to do Business with Vietnam’s Shipbuilding Industry

A joint venture company between the Viet Nam Shipbuilding Industry Group (Vinashin) and Finland ’s Macgregor group has been licensed to begin operating in the Vihashin-Shinec industrial zone in the northern port city of Hai Phong .
The joint venture has a chartered capital of 86.6 billion VND (5.4 million USD) with 44.2 billion or 51 percent being held by Vinashin and the remaining 42.4 billion VND or 49 percent with Macgregor. It will produce metal components and handling equipment.
The Macgregor-Vinashin maritime equipment Co. Ltd. plans to invest 16.3 million USD to build a factory to provide cranes and other equipment for shipyards at home and abroad. The factory with an annual capacity of 30,000 tonnes of product will be the largest of its kind in Southeast Asia after it is completed.
According to Vinashin, the company hopes to raise the rate of locally-made components to 60-70 percent by 2010.

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