Nosco Shipyard Joint Stock Company (Vietnam)

Founded in 2009, NOSCO SHIPYARD engages in building and repairing ship, maintenance transportation facilities, supporting activities for ocean shipping. As plan, the factory will be finished by early 2012. However, the difficulties in finance sector and the high inflation rate in Vietnam affected much to the process of this construction. The banker delayed in their disbursement of capital. Its factory was officially put into operation in June 2016. The factory of the subject is located at Hamlet 4, Tien Phong Commune, Yen Hung District, Quang Ninh Province. The factory of the subject has total land area of 100 hectare with total investment of USD 250 million; in which, Vietinbank granted loan of VND 2,000 billion for this project.It is difficult to connect with the subject through its fixed phone number. Through media sources, it is known that Nosco Shipyard owes nearly 6.2 billion dong of social insurance. Moreover, in the first quarter of 2019, the subject was in operation difficulty. That time, the company had been repaired two ships; this directly affected to the salary payment and other workers' benefit. The subject's future development need to have further observation.