Singapore-listed Yangzijiang Shipbuilding is expanding its shipbuilding capacity further by entering into a joint-venture agreement with Japan’s Tsuneishi Holdings.
The Re Letian-led shipyard disclosed it will acquire a 34% equity stake in Tsuneishi Group Zhoushan Shipbuilding for CNY 833.1m ($117.4m) through a private share allotment.
Yangzijiang said the greement marks a significant step in strengthening the relationship between the two shipyards, which share a commitment to sustainable growth and a focus on private-sector shipbuilding.
