Kawasaki Heavy, China's Cosco to Build Shipbuilding Site
Kawasaki Heavy Industries Ltd plans to draw business tie-up with China Ocean Shipping Co (Cosco) to build one of the largest shipbuilding facilities in China, The Journalo said. The joint venture to be based in Dalian is expected to start operation in 2010. China's leading marine transporter Cosco would hold between 70 and 80 percent of shares in the venture, with the rest owned by Kawasaki Heavy.The two companies expect the joint venture to double the output capacity from the current 650,000 gross tons to 1. 5 million gross tons at the new facilities. Sourc: Journalo