Vard Vung Tau Ltd (Vietnam)

The subject is a member of the VARD Group which has head quarter in Norway. This group has more than 7,000 employees worldwide and operates shipbuilding facilities at home in Norway, as well as in Romania, Brazil, and Vietnam. VARD is majority owned by Fincantieri Oil & Gas S.p.A., a wholly owned subsidiary of FINCANTIERI S.p.A, which is headquartered in the northern Italian city of Trieste, FINCANTIERI is one of the world's largest shipbuilding groups that over its 200 years history has delivered more than 7,000 vessels.In Vietnam, the subject specializes in manufacturing a broad range of offshore and specialized vessels, fishing vessels and expedition cruise vessels. The company is capable of handling complex shipbuilding projects. As shared by the subject's staff, this company is operating as a factory of the parent group. All orders of building vessels are transferred from its parent group. Therefore, most of the materials are supplied by its parent group and related companies, or designated suppliers. The subject's shipyard has a floating dock of 7,800 tons capacity, total quay length of 310 m with a draft of 9.5 m, warehouse capacity of 2,400 square meters. Currently, it is certified for ISO 9001, ISO 14001, ISO 45001 and SA 8000 standards.At the end of 2022, the subject has a plan of investing and building "Vard Vung Tau mechanical and steel structure manufacturing factory" to meet the increasing demand for steel structure products. This factory has a total investment capital of USD 19 million and also locates in Dong Xuyen Industrial Park.