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Mitsubishi Heavy in Vietnam yard venture

Hanoi: Mitsubishi Heavy Industries of Japan is making a landmark investment in southeast Asia. It will build a ship repair yard as a joint venture with Mitsui OSK Lines, Japanese trading company Marubeni Corp and local state-owned shipbuilder Vinashin.
A first dock should be up and running by 2010. A second dock for shipbuilding is being mulled.
Mitsubishi Heavy is the latest Japanese yard to head overseas amid high costs at home and an ageing workforce. [27/03/08]