The diesel engine crankshaft project under the CSIC at Haixi, Qingdao Economic Zone has been completed recently. Qingdao has made substantial progress in the construction of the ship repair and shipbuilding base.

　　Li changyin, head of the China Sh ipbuilding Industry Corporation, and Xia Geng, mayor of Qingdao, along with other senior government officials attended the celebration.

　　Li changyin said that Qingdao is richly endowed by nature. Qingdao's infrastructure and location-based superiority enabled it to develop shipbuilding industry. The CSIC, as the largest shipbuilding company in China, is now able to manufacture 5 million tonnage of ships. According to the agreement, the CSIC will build its shipbuilding base at Haixi into China's most important shipbuilding and research center.

　　Xia Geng expressed his congratulations. He said has Qingdao stuck hard and fast to the strategy to develop the manufacturing and the shipbuilding industries. He sincerely hoped that the CSIC could continue support for Qingdao's shipbuilding industry and increase investment. The local authorities would implement as usual the related contracts and create an excellent environment for the CSIC's project in Qingdao.

　　The diesel engine crankshaft project has involved over 1 billion Yuan of investment. It will be able to manufacture yearly 50 high-powered low-speed diesel engine crankshafts after the first phase of the construction. The output will triple after the phase II of the project, which then will effectively alleviate China's shipbuilding industry's heavy dependence upon crankshafts from abroad.