A shipyard, believed to be the largest of its kind in China, is currently under construction at Haixiwan Gulf in Qingdao, in east China's Shandong province.
The shipyard will have the designed capacity to repair 206 ships and build new ships with a total volume of 2 million dead weight tons (dwt) annually.
Covering an area of 260 hectares, the shipyard is equipped with two deep-water wharves, each 4,000 meters in length, with the capacity to accommodate six 300,000-dwt vessels, two ship repair yards and two ship-making yards.
The total cost of the shipyard is estimated at 400 million yuan (48 million US dollars). The repair yards will be completed by October this year, while the entire shipyard is scheduled to begin operations by 2004.