Vinashin might be reborn as "SBIC"
2013-11-08 09:00
Vietnam's shipbuilding group Vinashin is to be reborn as a new enterprise through a large-scale restructuring project.
Vietnamese authorities said that the Shipbuilding Industry Corporation (SBIC) will be established, which is the predecessor of the Vinashin Group that faced a large-scale debt crisis due to poor management.
SBIC is a "Single Member Limited Liability Company" wholly owned by the government, with a registered capital of VND 952 billion (approximately US\$449 million). The company is a holding company with eight shipbuilding subsidiaries, which will operate under the direct management of the Ministry of Transport.
SBIC's main business projects include shipbuilding, repair, port and terminal operation, maritime transport, and shipyard construction.
In cooperation with the government and the board of directors, the company will support the restructuring to help Vinashin repay its debts.
In addition, on October 10, Vinashin issued international bonds to repay debts of approximately US\$600 million obtained from international credit institutions and banks. Regarding the VND 17 trillion in domestic debt, Vinashin plans to complete debt restructuring after issuing bonds in the fourth quarter of this year or early 2014.
Related News
Address: No. 6, Xingyuan Avenue, Rucheng Street, Rugao City, Jiangsu Province
Tel: 86-513-87268999、86-513-7268666
Fax: 86-513-87268998
Email: info@ntlw.com
WeChat：15335077201
WeChat Official Account
Video account
Douyin account
Copyright © 2025 Nantong Liwei Machinery Co., Ltd.丨Powered by:www.300.cn丨SEO