September 1, 2003

China plans second giant yard
Recently, the China State Shipbuilding Corporation (CSSC) announced plans to build the world's largest shipyard in Shanghai.

Thursday, it announced plans for another giant yard. To be built in south China's Guangzhou city, it will be the largest yard in south China.

The CSSC has signed a contract with the Guangzhou municipal government for the shipyard project. Guangzhou will select a 4.5 km long site on the coast of Longxue Islet off Guangzhou, as the yard site.

CSSC General Manager Chen Xiaojin said that CSSC will invest about $543.6 million in the yard's construction, and build two docks capable of building ships of 300,000 dwt.

When the yard is completed in 2008, or one year ahead in 2007, Chen said, it may be capable of building from two million to three million dwt of ships annually.

With one third of China's shipbuilding market, CSSC received approximately six million tons of shipbuilding orders in the first seven months of this year. Its current backlog totals 9.6 million tons.

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