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VietNamNews

Japanese firm set to build shipbuilding facility

Update: June, 07/2012 - 10:10

KHANH HOA — Central Khanh Hoa Province's Planning and Investment Department on Tuesday granted an investment licence to Japanese Oshimam Shipbuilding Company to build a shipbuilding yard in Cam Ranh City.

Covering an area of 304ha, the VND3.78 trillion (US$180 million) project would be implemented in two phases and operated within 50 years.

The company would complete investment procedures and infrastructure to build 12 ships with capacity of 37,000 to 56,000 tonnes each in the first phase after four years of granting the licence. In the second phase, it planned to build 24 ships per year and provide jobs for 3,000 labourers.

It is expected to pay $2.5 million yearly in business income taxes as it comes into operation.-VNS

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