Yacht base contracted
2014-May-13 Source: Zhuhai Government website
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Ferretti Group, which set up an Asia-Pacific Headquarters in Zhuhai last year, signed an agreement last Tuesday with Jiangsu Yangtze River Shipbuilding Group co and a Shenzhen company. They will jointly invest $100 million in the Jet-Tern Marine Zhuhai factory for a globally advanced Ferretti Yacht Asia-Pacific Manufacturing Base.

Ferretti, a world leader in the sphere of designing, building and marketing of luxury motor-yachts, is noted for its portfolio of prestigious brands. Yangtze River Shipbuilding Group co, on the list of Top 500 Enterprises of China, is one of the top ten shipbuilding companies in the world. Located in Pingsha Yacht Industrial Park, Jet-tern Marine Zhuhai factory is one of the few companies in China possessing independent international brands and R&D and manufacture capability.

Taking advantage of Jet-Tern's resources, the four companies will work together in research and development, design, manufacture, marketing and other aspects. The base is targeting to yield annual sales revenue of 3 billion yuan ($482 million) and to be among the top ten yacht manufacturers worldwide.

Ferretti, Shandong-based Weichai Power Group and Zhuhai Leader Power Investment Holding co ltd signed an agreement last June to establish Ferretti Yacht Asia-Pacific Headquarters in Hengqin New Area. With investment of 3 billion yuan ($482 million), the project will be built into a waterside office-recreational commercial complex featuring a marketing and service centre which will showcase products, release of new types and trial rides or piloting, ship-owner club, navigation school, and public yacht club. Additionally, the group will co-host a global top-brand yacht exhibition with the Italian Yacht Club annually in Hengqin.

Editor: Jecey
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