Waigaoqiao acquires LNG assets

Shanghai: CSSC announced that its subsidiary, Shanghai Waigaoqiao Shipbuilding, is to purchase 26% equity in Shenghui Gas & Chemical Systems (Zhangjiagang) at a cost of RMB134.68m.

After the takeover, Waigaoqiao together with CSSC (Hong Kong) Shipping, will hold a controlling 51% stake in Shenghui.

Waigaoqiao expects to enter into the small and middle-sized LNG product field through the asset purchase and to form a complete industry chain for LNG, the company said.[12/12/13]

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