Singapore-listed Yangzijiang Shipbuilding (YZJ) has established a new investment fund to diversify its operations.
The Chinese yard company said its Jiangsu Yangzijiang Shipbuilding (JYSCO) unit has teamed up with Hodo Group, Shagang Group and GCL Group to form a first non-state-owned company in Jiangsu.
Jiangsu Non-state-owned Investment Holding Co (JNIHCO) will invest a total of CNY 1bn ($150.5m), with a paid-up capital of CNY 8.6bn.
YZJ
