Penglai kicks off expansion plan

Shandong, China-based Penglai Zhongbai Jinglu Ship Industry Co. Ltd. recently kicked off its RMB720 million (US$105.48 million) “Phase Two” construction plan, which involves the construction of new facilities including a 3,130 meter outfitting quay and a 360 by 102 meter dry dock. “Phase One” of the company’s plan was completed last year. It is now equipped with one 20,000 deadweight tonnage (dwt) slipway and a dry dock measuring 369 by 102 meters. Media reports say the company aims to produce one million dwt of vessels per year. (March 13, 2009)