Yangzijiang Shipbuilding (Holdings) Ltd., a large shipbuilding enterprise in China, is planning new joint ventures with Qatar Investment Corp (QIC) to move further into the offshore marine business.
Yangzijiang agreed with QIC to invest $110m in YZJ Offshore Engineering Pte Ltd (YOEPL), a Singapore-based 50 – 50 joint venture.
According to further plans, YOEPL is to invest $100m and Yangzijiang to invest $150m in YZJ Offshore Engineering China, a new China based company.
Design, procurement and marketing services will be provided by YOEPL, while YZJ Offshore Engineering China will provide turnkey production and fabrication.
Yangzijiang stated that the investment is in the best interest of the group to enhance the capabilities in design and construction of offshore platforms and vessels and to improve the group’s development and competency strategies.
[mappress] Shipbuilding Tribune Staff , December 12, 2011