A wholly-owned subsidiary of DSIC will set up a joint venture firm with the university to carry out the R&D focusing on offshore technology, the shipbuilder announced late on Tuesday.
DSIC, subsidiary of China Shipbuilding Industry Corp (CSIC), will invest RMB2m ($304,000) to own 40% stake in the joint venture while Dalian Maritime University will pump in RMB3m to take the majority 60% ownership.
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