McDermott Enters China JV

 

CNN reported that one of McDermott International Inc.’s subsidiaries has entered into a joint venture with a subsidiary of the state-owned China Shipbuilding Industry Corp.

The joint venture company, Qingdao McDermott Wuchuan Offshore Engineering Company Ltd., plans to establish a new location on over 111 acres in .  The facility is expected to be located next to two new China Shipbuilding shipyards. China Shipbuilding has one floating dock and five drydocks in the area.  McDermott Wuchuan expects to focus its business on floating, production, storage, off-loading vessel construction and integration, the company said.

The new facility will include structural and pipe shops, blasting and painting facilities, module assembly buildings, covered warehousing and lay down areas, the report indicated.