CSSC injects capital in engine research institute

Shanghai: China State Shipbuilding Corporation (CSSC) has announced that the company and its subsidiary Hudong Heavy Machinery (HMM) plan to inject more capital in the CSSC Propulsion Research Institute in an effort to accelerate the research and development of its own high-power diesel engine.

CSSC and HMM will invest an additional RMB120m and RMB115.3m respectively. After the replenishment, CSSC and HMM will hold 51% and 49% equity of CSSC Propulsion Research Institute. [25/11/13]

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