CSIC Begins Building Shipbuilding Facility

XFN reported that China Shipbuilding Industry Corp (CSIC) has started construction on two new drydocks in the eastern city of Qingdao, with a projected total investment of 7.4 bln yuan. The State-owned Assets Supervision and Administration Commission (SASAC) said in a statement on its website that construction on the new docks is scheduled to be completed by April 2009. The facilities, which will have combined annual capacity of two mln deadweight tons (dwt), will be able to build very large crude carriers (VLCCs), bulk cargo vessels and container ships with capacity up to 8,000 TEUs.