The Planning and Investment Department in central coastal Khanh Hoa province on June 5 issued a licence to Oshima Shipbuilding Company, from Japan, to build a shipyard with a total registered capital of VND3.78 trillion (more than US$180 million).
The yard, which will be built in two phases and last for 50 years, will be situated on a 304 hectare site in Cam Thinh Dong commune in Cam Ranh town.
It will take four years to construct the yard’s infrastructure and install all the necessary facilities. In the first phase, the Oshima Shipbuilding Company is expected to build 12 vessels with a tonnage of 38,000 – 56,000 each year, using the latest technology.
On entering the second phase, the shipyard will be able to produce as many as 24 ships per year.
Once in full operation, the shipyard will employ 3,000 skilled local workers.