Greater ChinaShipyards

CSSC to invest $2.3bn to develop Longxue Shipbuilding base

Chinese state run shipbuilding conglomerate China Sate Shipbuilding Corporation (CSSC) is planning to invest RMB15bn ($2.3bn) in total in the next five years to develop its affiliate shipyard Guangzhou Longxue Shipbuilding, Dong Qiang, president of CSSC said at a government meeting in Guangzhou yesterday.

Dong said the group will further expand Longxue Shipbuilding into a comprehensive shipbuilding and offshore equipment base with an annual capacity of 10m dwt.

The phase one project will use RMB4.5bn ($691m) to develop two 500,000dwt docks which will add 2.12m dwt capacity to the shipyard.

According to Dong, currently the total shipbuilding capacity in Guangzhou is about 6.5m dwt, and 70% of the capacity is controlled by the government. The group will also keep integrating the shipyards in Guangzhou through mergers and acquisition to optimize the shipbuilding capacity in the city.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
Back to top button
Close
Close