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VietNamNews

New shipbuilding firm to begin operations

Update: January, 03/2014 - 08:31
VNA/VNS Photo

HA NOI (VNS)— The Shipbuilding Industry Corporation (SBIC) begins operations this month as part of the restructuring of the heavily indebted Viet Nam Shipbuilding Industry Group (Vinashin).

With a total registered capital of VND9.52 trillion (US$449.06 million), the new corporation will operate as a parent company and focus on building and repairing ships, as well as recycling and converting old vessels into scrap metal. — VNS

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