China’s leading manufacturer Weichai has started construction of a new Qingdao Marine Equipment manufacturing centre.
With a total investment of CNY1.5bn ($236m), the marine equipment manufacturing centre project will be constructed in two phases.
The first phase will develop a marine equipment and ship research and development construction base, the second phase will construct an integrated industrial base supporting research, development, production, maintenance and commercial services for maritime industry.
At the end of 2021, Weichai Group and Qingdao government signed a strategic cooperation memorandum for the development of several projects and will develop a high-end manufacturing industry cluster in Qingdao.
According to the strategic cooperation agreement, Weichai will build a global technology research and development center and technology incubation center in Qingdao, and implement new energy key components and marine equipment manufacturing projects.
The two parties will also focus on exploring the promotion and application of port tractors and logistics vehicles.
Source: Seatrade Maritime News