ZPMC, China’s leading port machinery firm, said the expansion works include building a new dockyard, slipways, and outfitting quay that can accommodate one 50,000-dwt bulker.
The development project has received approval from the local transport authorities to go ahead, ZPMC said in a regulatory filing.
ZPMC held a 67% stake in Daoda Heavy following an investment into the latter early last year.
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