The Shipbuilding Block Fabrication Plant is located in Ninh Thuy Industrial Park, Dong Ninh Hoa Ward, Van Phong Economic Zone, Khanh Hoa Province, and is developed by Miboo Heavy Industries (South Korea) with a total investment of VND 528.2 billion (approximately USD 20 million).

The project is being developed on a 12.7-hectare site with a designed production capacity of 30,000 tonnes per year. The plant will specialize in the fabrication of shipbuilding blocks for new vessel construction, contributing to the development of Vietnam’s shipbuilding supporting industry and increasing the localization rate of the domestic shipbuilding sector.

The project officially broke ground on July 23, 2026. Phase 1 is scheduled for completion in the first quarter of 2027, with operations expected to commence in the second quarter of 2027. The entire project is expected to be completed in the third quarter of 2027.