CHINA has invited the Norway's Kvaerner Group to invest in building a shipyard complex on a greenfield site near Shanghai, according to Lloyd's List.
It said the China State Shipbuilding Corp (CSSC) had approached Kvaerner with a proposal for participation in a US$400 million yard at Pudong.
It wants the Norwegian organisation to cover half the capital expenditure, as the central plank of a possible partnership deal.
CSSC has spent $2 million on the site, which covers an area of two million square metres.
It is intended for the construction of vessels of up to 300,000 dwt.
The move provides a new response to Kvaerner's long-standing interest in some form of joint venture in the internationally-emerging Chinese shipbuilding industry.
