China Merchants Group establishes offshore base in Nantong

Shanghai: State-owned conglomerate China Merchants Group signed an agreement with Nantong government yesterday to set up an offshore base in Haimen port area of Nantong.

China Merchants will invest RMB10bn on the project which will be dedicated to offshore engineering equipment, port machinery and modern logistics and it is expected to be a leading offshore base in China.

Haimen is an emerging city in the Yangtze River Delta under the jurisdiction of Nantong, “Haimen has excellent geographic advantages and resources which is a solid foundation for the project and Haimen will enhance collaborations with China Merchants Group and provide policy support to the project,” said Jiang Long, a local government official. [06/12/12]

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