Rugao Port. [Photo/WeChat account: rugaofabu]

Rugao took another step forward in attracting high-end international manufacturing investment on June 17, when South Korean marine equipment giant Panasia signed an agreement to establish its premium ship equipment manufacturing project in Dongchen town.

Panasia is a leading global provider of marine environmental protection systems, specializing in ballast water treatment systems (BWTS), exhaust gas cleaning systems, commonly known as scrubbers, and tank level gauging systems (TLGS).

The company maintains close partnerships with major South Korean shipbuilding and shipping enterprises, including Samsung Heavy Industries and HMM, the nation's largest shipping company.

The Rugao project marks Panasia's first production base outside South Korea. Previously, the company operated manufacturing facilities exclusively in Busan on the country’s southern coast.

The new facility will focus on the research, development and manufacturing of high-end scrubber systems for oceangoing vessels, helping shipowners meet increasingly stringent international environmental standards.

The project is scheduled to begin operations in the fourth quarter. Once it has reached full production capacity, it is expected to generate annual sales in excess of 200 million yuan ($29.38 million).