The Middle Area Construction and Shipbuilding Industry Company (Macshinco), an affiliate of Vinashin Group, officially handed over 20 tonnes of ship electric cables to the Saigon Shipbuilding Industry Corporation on December 16 at the Hoa Khanh Industrial Zone in the central city of Danang.

This success is believed to enable the Vietnamese shipbuilding industry to save foreign currencies for imports of input materials.

With a total investment of US$20 million, Vinashin’s plant for ship electric cables can produce 8,000 tonnes of cables annually.

After five months of operation, it was granted quality certificates by foreign and domestic registration agencies.

Tran Quang Tuan, director of Macshinco, said that the establishment of the plant is of particular significance in the context of Vinashin’s restructuring.