FUJIAN, China, June 11, 2020 /PRNewswire/ -- On June 2nd, VIVIC CORP. (OTC-PINK:VIVC) and Quanzhou Harbour Group Co., Ltd. signed an important second phase cooperation agreement on the development of Chongwu Yacht Marina. This agreement has set in motion the construction of the marina, which has greatly accelerated the progress of the project.
During the first phase of the agreement, the two parties conducted copious amounts of on-site and theoretical demonstrations for the development of Chongwu Yacht Marina, submitting work reports and project reports to the government. The Chongwu Yacht Marina project has become the focus of the local government by improving the aesthetic city environment and adding commerce to the area. This agreement represents an important milestone by clarifying work roles of each party in the construction of Chongwu Yacht Marina.
Introduction of Chongwu Yacht Marina: This project covers a total area of more than 38 acres and is located on the Chongwu Peninsula in Quanzhou, Fujian, China. It consists of a yacht marina, tourist resort hotel, artificial beach, and various other water sports recreations. The marina is in close proximity to national attractions, which draws record-breaking amounts of tourists each year. On the coastline around the marina, there are 12 charming golden sand beaches with rocky reef islands of all shapes and sizes. The evening sunset is particularly gorgeous. In 2005, "Chinese National Geography" magazine selected this location as one of the eight most beautiful coasts in China. The project has developed detailed networks of transportation with only a 25-mile drive from the nearest airport and a 30-minute drive from major local cities.
Introduction of Quanzhou Harbour Group Co., Ltd.: Established in 1998 with a registered capital of 368 million Chinese yuan (equal to about USD$ 52 million), the company manages all state-owned marinas and marina construction in Quanzhou. The largest berth managed by this company is able to hold a 70,000-ton boat. Quanzhou Harbour Group Co., Ltd. is a notable marina management company in China.
SOURCE Vivic Corp.