Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

China Ocean Shipbuilding, Zhejiang Ouhua to form joint venture

China Ocean Shipbuilding, Zhejiang Ouhua to form joint venture
China Ocean Shipbuilding Industry Group (COSIG) and Zhejiang Ouhua Shipbuilding Company are planning to form a joint venture for the design of ships, and management and consultancy services.

The joint venture, Zhoushan China Ocean Technology Development, will be set up by COSIG’s 78.74% owned Zhoushan China Ocean Investment Fund and Zhejiang Ouhua.

Zhoushan China Ocean Investment Fund will contribute RMB300m ($48.2m), representing 75% of the registered capital of the joint venture, and Zhejiang Ouhua will contribute RMB100m for the remaining 25%.

The joint venture will primarily engage in development and application of energy saving technologies, R&D, development and consultancy services on ocean engineering related equipment technology, and import and export services of products and technologies, among others.