China Merchants Group has signed a framework agreement with Nanjing government to relocate Jinling Shipyard.
Under the agreement, China Merchants plans to relocate Jinling Shipyard from its current manufacturing base in Nanjing to Yizheng by the end of 2023.
The group and the government will work together to develop the old site of the shipyard into an international cruise port with a total investment of around RMB15bn ($2.12bn).
Jinling Shipyard, originally an affiliate yard of Sinotrans & CSC, was integrated into China Merchants Heavy Industry in January this year as part China Merchants’ ongoing internal restructuring process following its merger with Sinotrans.
According to VesselsValue data, Jinling Shipyard currently has an orderbook of 13 roro ships.