China: Zhonghong, China Railway Win Ruyi Island Project

Yesterday, a consortium made up of Zhonghong Holding Co., Ltd. and China Railway Group Limited won Ruyi Island project in Haikou City with CNY 3 billion.

The consortium made up of Zhonghong Holding and China Railway Group participated in bidding for equities of Ruyi Island project located on the eastern coast of Haikou City and successfully delisted the project, according to

Sea area covered by the equities is 6.12 square kilometers. The transaction price stands at CNY 3 billion and the listing service charges at CNY 9.383 million.

Data shows that the project is a manmade island. Estimating on the basis of CNY 300 million construction cost of man-made island at Yangkou Port in Nantong City, costs of early land reclamation work for Ruyi Island will be not below CNY 1.6 billion.


Dredging Today Staff, May 24, 2012;