Wuchang constructs new shipbuilding base

According to local industry sources, Wuchang in China has recently signed an agreement with Xinzhou, Hubei Province government authorities regarding establishment of a shipbuilding base for building specialized vessels and heavy weight structures.

The base will be located in Yangluo Economic Development Zone in Wuhan City. The first phase construction works include making a 1.34 million square-metre site alongside 2,100m long coastline with an investment of 2 billion yuan ($293m) with the target of completion within two years.

Once completed, the shipbuilding base will mainly construct specialized ships, offshore plants, bridge steel structures, etc. and the annual revenue is expected to reach 10bn yuan.