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A signing ceremony for a heavy ship equipment base is held in the Yangkou Port Economic Development Zone. [Photo/WeChat account of Yangkou Port]

The Yangkou Port Economic Development Zone in Rudong, Nantong, Jiangsu held a signing ceremony for a major heavy ship equipment base project on May 25.

With a total investment of 3 billion yuan ($414.12 million), the project will produce marine engineering equipment, including ship modules and FPSO (floating production storage and offloading) pipeline systems. Construction will be carried out in three phases, and after reaching full capacity, it is expected to achieve an annual output value of 5 billion yuan and pay 220 million yuan in annual taxes.

Chen Huiyu, Party secretary of Rudong county, stated that the company behind the project is an outstanding enterprise with advanced technology, numerous invention patents, and promising market prospects. The company serves a wide range of sectors, including shipbuilding, marine engineering, liquefied natural gas, and oil.

Chen expressed confidence that the successful establishment of the project will enhance the county's industrial system and accelerate its development. He asserted that Rudong will continue to provide proactive and high-quality services to ensure the project is completed and becomes operational on schedule.

The company's chairman introduced details about the project and had high praise for the county's investment environment. He expressed strong confidence in the future development of the enterprise and committed to further deepening cooperation to contribute to the region's high-quality economic development.