Thang Long - Hanoi

Ex-Vinashin executives go to trial
27/03/2012 | 17:50:00
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The first-instance trial on the case involving mismanagement at the National Shipbuilding Industry Group (Vinashin) opened in the northern port city of Hai Phong on March 27.

Nine defendants, including former chairman and general director of Vinashin, Pham Thanh Binh, have been indicted for intentionally violating State regulations on economic management, causing serious consequences.

According to the indictment, Binh and his accomplices disregarded State laws and regulations on investment, management and use of State capital in the purchase of Hoa Sen ship, investment in construction of the Song Hong thermal power plant in Nam Dinh province and the Cai Lan diesel thermal power plant in Quang Ninh province, sale of a ship named Bach Dang Giang and the financial lease of Binh Dinh Star Ship.

The trial is expected to last until March 30.

Vinashin was established in 1996 to develop the country's shipbuilding industry, but developed financial problems in 2009. The Government later introduced reforms to get the embattled shipbuilder back on track.-VNA
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