Shanghai: China International Marine Containers (CIMC) announced that it has signed an investment agreement with Ningbo Yinzhou Economic Development Zone to develop a new container manufacturing base with a total investment of RMB3bn.
CIMC will invest RMB1.5bn in phase one of the project which will have an annual capacity of 200,000teu upon completion before the end of 2015. Phase two of the project is expected to be completed in 2018 and the annual capacity will be expanded to 450,000teu.
CIMC said it believes the container sector will continue to grow in the future and the new manufacturing base will further strengthen its leading position in the sector. [09/06/14]