Guangdong Songfa Ceramics has announced that its subsidiary, Hengli Shipbuilding (Dalian), has received its third installment of Chinese government subsidy funds amounting to RMB330 million ($45.9 million).
This funding underscores the government’s continued support for Hengli’s rapid expansion and growing prominence in the global shipbuilding sector.
Third Round of Subsidy Boosts Growth
This latest subsidy adds to two earlier payments received in June and July, bringing the total government funding for Hengli Shipbuilding to RMB710 million. Such financial backing is expected to accelerate the company’s production capacity and enhance its competitive edge in the market.
Hengli’s Expansion and Production Capacity
Hengli Heavy Industries, now in its third year of operation since restructuring from the old STX Dalian Shipyard, has made remarkable progress. The launch of its “Future Factory” earlier this year has significantly improved production efficiency. To date, Hengli has started construction on over 70 vessels, with its order book stretching into 2029. Once operating at full capacity, it is projected to become the world’s largest shipbuilding base by single-site operations.
The continued government support, coupled with Hengli’s technological advancements and strong order backlog, positions the company for sustained growth. With ambitions to lead the global shipbuilding industry, Hengli Shipbuilding is poised to play a central role in shaping the sector’s future.
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Source: Seatrade Maritime
