An exciting news has been released by the young enterprise established for only 4 years that the 2009 revenue surpassed RMB 10 billion, increasing by 60% year on year. And this makes Rongsheng become the initial RMB 10 billion revenued tycoon in Nantong of Jiangsu Province historically. Being built up in 2005 as a fresh shipyard , Rongsheng has been highly developing in consequence of the domestic No.1 and global No. 5 in order book to date.

It’s reported that Rongsheng will aim to the goals of 5 million dwt and 30 vessel deliveries, more than RMB 20 billion revenue, No. 1 in comprehensive domestic ranking, USD 1 billion export proceeds and RMB 800 million the tax revenue. On the basis of this, Rongsheng is going to widen the promotion of informationization, enhance the platform construction for independent innovation, stress the talent’s take-on and development and strengthen the investment for new projects and lay a solid foundation for rapid and long-range enterprise development.

To cope with the global financial crisis and meet the demands of auxiliary establishment and technical reconstruction, Rongsheng inked the Consortium Loan Contract with the banking consortium which consists of China Development Bank, CITIC Nanjing Branch and Bank of Communications Nantong Branch in 2009.12.25. It was stipulated that the consortium would supply the mid and long term loan of RMB 2.15 billion for Rongsheng Ocean-Engineering Base construction. The loan term will be 8 years.

The new ocean-engineering base is going to branch out the new area to 2,269 mu and the new building area to 430k square meters. Reportedly, the accomplished base will reach the capacity of 6 vessel 150000dwt-level FPSO. The construction period will last 24 months from 2009.6 to 2011.5.