New Times Shipbuilding invests $692 million to expand production
Privately-owned Chinese shipbuilder, New Times Shipbuilding, is planning to expand production facility in Taizhou, Jiangsu province to meet the growing demand from newbuilding orders, according to Seatrade Maritime.
The shipyard will invest RMB5 billion ($691.8 million) in developing its new energy intelligent ship construction project in Jingjiang Economic and Technological Development Zone, including smart manufacturing plants, air pressure station, liquid oxygen gasification station, LNG gasification station, gantry cranes, as well as one large size dry dock, one inland terminal and other facilities.
New Times Shipbuilding currently has one 500,000 tonnes-class, one 300,000 tonnes-class and one 100,000 tonnes-class dry docks, plus three large-size outfitting docks.
As the end of June, New Times Shipbuilding’s orderbook on hand was 104 vessels, enabling the shipyard to keep busy till the year of 2028.
Earlier this month, the other two private Chinese shipbuilding companies, Yangzijiang Shipbuilding and Hengli Heavy Industry also revealed their investment plans to improve production capacity.
