China's first US-owned and operated shipyard opens

US-based Tricon Marine, a builder of custom luxury yachts of up to 180ft (55m), has opened China's first and only North American-owned and operated shipyard just outside Zhuhai in China's Guangdong province.

Tricon says that the 55,000sq m facility will operate to the highest American and European standards of craftsmanship, cleanliness and security.

An initial investment of US$8 million is budgeted for Phase I with a total investment of US$21 million planned over five years.

Production and employee training began in early 2007 at a temporary facility adjacent to its new under-construction yard. The new shipyard is expected to be fully functional by August 2008.

The yard will have a production capacity of 16 yachts indoors plus space for work on two yachts up to 180ft (55m) in water. The company says it will complete up to US$60 million in work per year, depending on the size of yachts under construction.

Currently employing 64, Tricon expects to grow its skilled labour pool to 210 workers over the next 18 months.

Source: IBI News