Guangzhou: A leading shipbuilder in south China, Guangzhou Shipyard International, is to relocate before 2015. The total relocation cost is expected to exceed RMB10bn.
Due to limited land resources and pressure from the environment protection authority, the shipyard has to move, however, the exact relocation schedule has not been confirmed yet, an official from the company said.
The old facilities at the downtown of Guangzhou and the reserved land at Nansha are keenly sought after by developers. Hong Kong-listed GSI recently completed the takeover of fellow Guangzhou builder, Longxue. [13/11/13]
