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|  | | Taiwan¡¯s Evergreen says shelves China shipyard plan |
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¡¡¡¡Taiwan's Evergreen Group, which controls Asia's largest container shipping firm, Evergreen Marine Corp, recently said it has shelved a plan to invest in a Chinese shipyard due to weak market conditions.
¡¡¡¡With the change of the market, current timing is not good to diversity into shipbuilding industry, the company said in a written reply to Reuters' questions. As a result, the plan to invest in a shipyard has been shelved.
¡¡¡¡Evergreen had intended to form a ship-building joint venture in the southern Chinese port city of Quanzhou with the local government. The planned shipyard would have had the capacity to make ships of 350,000 tonnes and would have been ready to start production in 2011.
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