China's Guangzhou Shipyard International (GSI) has recently made a regulatory filing, which states that it plans to put money into building its subsidiary specialising in offshore engineering and fabrication.
The offshore subsidiary is to be named GSI Offshore Engineering. GSI will own 100% of the subsidiary's shares, with CNY50 million (USD8.0 million) of registered capital.
The new company's business ranges over design, building, conversion and repair of offshore vessel and platform, as well as offshore-related R&D, technology transfer, technical service and consulting.
Source: Asiasis