A US$5 million (equivalent to VND8 trillion) project to build the STXVINA heavy industry complex in Ninh Hoa district in the south central coastal province of Khanh Hoa was given the go-ahead in a ceremony on January 22.
During its anticipated 50 years of operation, the complex will operate a modern ship-yard, and other related heavy engineering work.
The yard is expected to start building oil, container and cargo vessels with a capacity of up to 2,090,000DWT a year in the first phase of the project. In the second phase, it will increase its building capacity to 3,560,000DWT a year.
With the increasing number of projects, it is expected to bring around a rapid development in the economy of Khanh Hoa province.
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