Shanghai: Shanghai Zhenhua Heavy Industries (ZPMC), the world leading port machinery builder, is going to expand its offshore shipbuilding facility. The company has gained approvals from transport authorities to expand its shipbuilding base in Qidong, Jiangsu.
The project includes building a new dockyard and a new fitting out quay in ZPMC-affiliated Daoda Heavy Industry.
ZPMC acquired an 67% equity share in Daoda Heavy Industry in March 2014 and became the controlling shareholder of the yard. ZPMC is currenty developing the yard into its offshore shipbuilding base.