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Indiaexportnews.com

China Shipping breaks ground for first shipyard

  07.05.2007    

China Shipping Group, the Mainland's second-largest shipping conglomerate, has broken ground for its first shipyard with an investment of RMB 3.8 billion to support the group's expansion.
The shipyard in Jiangdu, Jiangsu province, is expected to be completed by the end of next year and stretch for 3,500 metres along the eastern coastline, according to a notice on the group's website.
Annual production capacity is expected to reach 1.5 million deadweight tons and annual sales revenue of RMB 10 billion. The shipyard has already signed contracts to secure orders for 22 ships, the China Knowledge reported.



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