Yangzijiang Shipbuilding secures land in China for a clean energy base
The company intends to invest $555m for the new facility.
Mainboard-listed Yangzijiang Shipbuilding has entered a framework agreement with the local government of Jingjiang City, China, to acquire 866,671 sq m of land to build a new clean energy ship manufacturing base.
The land is located at Xinqiao Park of the Jingjiang Economic and Technological Development Zone, featuring 1320 m of the Yangtze River shoreline, which offers an opportunity for expansion.
The land is also adjacent to Jiangsu Yangzi Xinfu Shipbuilding, enabling seamless integration of new facilities and enhancing productivity and operational efficiency.
Yangzijiang Shipbuilding intends to invest $555m (RMB3b) in the project over the next two years, subject to the company's satisfaction with the ongoing feasibility study.
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