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Jinhai Heavy Industry plans $448m upgrade

Jinhai Heavy IndustryHNA-affiliate shipyard Jinhai Heavy Industry has announced that it will invest RMB3bn ($448m) to upgrade the yard over the next five years.

The investment will be mainly used to install new infrastructure and new automatic equipment to enhance the “smart” level of the yard.

Additionally, Jinhai also signed a strategic agreement with Zhoushan River-Sea Transport Industry Investment Fund, who have agreed to offer RMB1bn ($149m) to support the shipyard’s upgrade.

In an interview with Maritime CEO in April, Li Weijian, president of Jinhai, said the 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.

Currently Jinhai Heavy Industry has on hand orders for 62 vessels, with high-value added vessel types – including mega containerships, VLCCs and offshore platforms – accounting for more than 90% of the orders.

The Original Posted by  JASON JIANG/Splash24/7