New shipbuilding firm to begin operations

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

VNA/VNS Photo

HA NOI (Biz Hub)— 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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