The Middle Area Construction & Shipbuilding Industry Co., Ltd. (Macshinco) under the Vietnam Shipbuilding Industry Group (Vinashin) inaugurated a ship cable factory in the central city of Da Nang on May 23.
Covering an area of 45,000 sq.m at Hoa Khanh Industrial Park in Lien Chieu district, the US$20 million factory have a design capacity of 8,000 tonnes of products per year.
Equipped with modern European machines, the factory, the first of its kind in Vietnam, will produce electric wires and cables serving the shipbuilding industry together with industrial and civil cables.
According to Macshinco Director Tran Quang Tuan, the factory is expected to earn over VND500 billion in revenue each year.
