Japan-based Oshima Shipbuilding will build a new shipyard in Cam Ranh, a southern city in Vietnam's Khanh Hoa province, Seatrade Asia online reports.
The VND3.78trn ($180m) project will be carried out in two phases and it has a licence to operate for 50 years.
During phase one, Oshima Shipbuilding would construct the shipyard to build 12 vessels of 37,000-56,000 dwt each to international standards a year.
Phase two would increase the number of vessels from 12 to 24 annually.
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