CSSC receives $17.7m in state subsidies in first half

China State Shipbuilding Corp (CSSC) shared that it has received approximately RMB117.59m ($17.71m) in government subsidies over the first six months of this year.

Shanghai-listed CSSC said that the biggest share of the total subsidies received amounted to RMB84.5m under a R&D project on on constructing large oil tankers, undertaken by the research unit of its subsidiary Shanghai Waigaoqiao Shipbuilding (SWS).

The state-owned shipbuilder also received subsidy of RMB6.85m under a demonstration project for a 18,000-teu large containership.

Other projects that received subsidies included engineering works on self-elevating drilling rig, ultra-large iron ore carrier, robotics and automation, R&D on fuel saving and emissions reduction systems, and development works on construction of 20,000-teu containership.

Posted 24 July 2017

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Lee Hong Liang

Asia Correspondent

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