Japanese to Build Vietnam Shipyard

Oshima Shipbuilding contracted to build a US$ 180-million shipyard in Cam Ranh, Vietnam

The southern Vietnam city of Cam Ranh is to get a new shipyard worth 3,780 billion Vietnam dong (US$180 million) with the granting of an investment licence to a Japanese firm.

The project by Oshima Shipbuilding company will be conducted in two phases in the city's Thinh Dong Commune and will operate for 50 years.

Khanh Hoa Province's Department of Investment and Planning said in the four years of phase one, Oshima Shipbuilding would construct the shipyard to build 12 vessels from 37,000-56,000 tons each to international standards.

Phase two would increase the number of vessels from 12 to 24 annually.

The project would create jobs for 3,000 skilled employees, the department said.