Jinhai Heavy Industry plan investments for 448 million USD

Jinhai Heavy IndustryThe Chinese shipyard Jinhai Heavy Industry plan investments for 448 million USD in infrastructure and technology development during the next 5 years. The shipyard approved investment program, which aims to enhance the hi-technology level of the yard by integration of new automatic equipment and systems. The shipyard aims to follow the latest standards in shipbuilding and marine engineering, as well as improving the liquidity and profitability of operations. However, despite of technology automation and improvements, Jinhai Heavy Industry do not plan to cut employees and reduce work force, but mostly to increase capacity.

“Тhe shipyard is transforming from a traditional heavy industry firm to a precision industry firm in terms of both production and technology in order to get more high-value added orders”, said the president of Jinhai Heavy Industry, Li Weijian.

Jinhai Heavy Industry already signed strategic agreement with Zhoushan River-Sea Transport Industry Investment Fund, which will provide 149 million USD for the shipyard’s upgrade and development.

Currently Jinhai Heavy Industry is one of the most successful shipyards in the world ahs has orders for 62 vessels, with high-value added vessel types. The orders include mega container ships, VLCCs and offshore platforms – accounting for more than 90% of the orders.