China Rilin Group and DSME held a signing ceremony to initiate the Dandong and DSME Shipbuilding Heavy Industry Project in Dandong in Northeast China's Liaoning province on Aug 22.

China Rilin Group is a multi-business enterprise covering survey and design, building and construction, overseas investment and international trade. The Dandong Port Corporation under the group has opened ship routes to more than 50 countries and regions. The group also focuses on the development of port industries, including ship repair and construction.

DSME is the world's premium shipbuilding and offshore contractor, specializing in building vessels with superior technology. The cooperation between the two sides will further complement each other's advantages.

The Dandong and DSME Shipbuilding Heavy Industry Project is comprised of marine engineering equipment, steel structures manufacturing, and ship repair and construction with an initial total investment reaching $330 million. The long-term investment will amount to two billion US dollars.

Edited by Michael Thai