China Shipbuilding Industry Corporation (CSIC) recently announced that it has decided to invest RMB10bn in establishing an industrial base in Chongqing Municipality.
It covers four industries, namely, the special ship, associated ship engine, power supply equipment, and railway locomotive and heavy casting and forging industries. Upon completion and by 2015, the base will generate more than RMB50bn in annual sales income and more than RMB9bn in pre-tax profits.
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