China Plans Shipuilding Expansion on SE Coast

Fujian province expects to have the ability to build more than 8 million deadweight tons of ships each year, by the end of 2015.

The government’s “11 Measures to Transform and Upgrade the Shipbuilding Industry” calls the province to develop into an important shipbuilding base on the southeast coast of China within three years, by raising its national industrial status and technological level, reports the China Daily.

It is expected to get close cooperation from four industrial zones - Sansha Bay, Minjiang River Estuary, Meizhou Bay, and Xiamen-Zhangzhou Bay – which will work to develop two or three major enterprises that can produce one-million-DWT ships each.

The planners will evaluate production conditions and encourage the use of more modern methods and technical and R&D centers above the provincial level, which need new research equipment.

The province will accelerate construction work on key projects, including Mawei Shipbuilding Heavy Industries, on the Minjiang estuary, while key provincial projects will enjoy some assistance in use of sea area.

There will also be an extension of a 30-percent property and mortgage subsidy for shipbuilders, covering ships under construction, berths, and large machinery, while the financial guarantors of small enterprises can receive rewards depending on the amount of the guarantee.

Source: China Daily