Dalian: China's Rilin Group has signed a strategic agreement with Daewoo Shipbuilding & Marine Engineering.
Under the agreement, the two groups will jointly invest in and develop the Dandong Shipbuilding Industry Co to establish a shipbuilding industrial base in Dandong incorporating the fields of shipbuilding & repair, steel parts manufacturing and offshore engineering equipment.
Headquartered in Dandong, Liaoning province, Rilin Group is a large-scale private enterprise with a business scope including infrastructure construction, port operation and resource exploitation. It took over Dandong Port in 2005, and has since made Dandong Port the only private controlled major port in China.[23/08/12]