Yangzijiang Shipbuilding, China’s largest privately held shipbuilder, is expanding, developing 866,671 sq m of land in Jingjiang City into a new yard.
The land features approximately 1.3 km meters of Yangtze River shoreline, and is adjacent to the company’s existing Jiangsu Yangzi Xinfu Shipbuilding base.
Singapore-listed Yangzijiang has set aside RMB3bn ($413m) to build the new yard which it aims to have completed within two years.
Chinese yard expansion has made many headlines this year.
It is reported earlier this month on Hengli Heavy Industry’s plans to up its annual shipbuilding capacity to 7.1m tons, more than twice its current output, one of many Chinese yards developing new facilities to meet extreme demand.
New Times Shipbuilding has recently received local government approval to build another drydock
Shipyards in Asia are making the most of the current newbuilding boom with data from the end of June suggesting the number of active yards has leapt by 17.7% in the space of the last two years.