Fujian Shipbuilding forms jv with Jichai Power

Fujian Shipbuilding Industry Group and Jichai Power, a full subsidiary of CNPC, have signed an agreement on Thursday to jointly invest in a marine engine assembly factory in Lianjiang Industrial Zone in Fujian province. The factory is expected to be operational before September next year, SinoShipNews reports.

The two companies will also start a joint venture in Fuzhou in order to develop businesses of marine engines in the regions of South China, Taiwan and Southeast Asia, with a special aim to develop the marine engine market in the offshore industry.