Shanghai: China Ocean Shipbuilding has announced that the company has set up a jv with ship design and construction company, Zhejiang Ouhua Shipbuilding, through its subsidiary Zhoushan China Ocean Investment Fund.
China Ocean Investment Fund will invest RMB300m in the new jv, representing 75% of the registered capital, while Zhejiang Ouhua will invest RMB100m.
The new joint venture company, Zhoushan China Ocean Technology Development Company, will engage in the development of energy saving technologies, clean energy facilities and equipment, development and consultancy services on ocean engineering related equipment technology, production of mechanical equipment, import and export services, and the provision of investment consultancy services.
China Ocean Investment Fund was established by China Ocean Shipbuilding and two investment companies in Zhoushan in August, offering asset management services in shipbuilding and related sectors. [19/12/14]