Chinese petrochemical group Hengli to increase its presence in the shipbuilding sector, which has entered in mid-2022 with the acquisition of the company in bankruptcy STX Dalian Shipbuilding Co., which is then passed under the Hengli Heavy Industry brand, investing 9.2 billion yuan ($1.3 billion) to build a new shipyard on Changxing Island, near Dalian. In the new site is expected to be produced by Hengli Heavy Industry 1.8 million tons of steel annually and that the shipyard has an annual capacity of 1.8 million tons deadweight. The plant will be used for the construction of tankers and container ships and facilities for the offshore industry.