# CSSC subsidiary Haiying Enterprise forms offshore engineering JV with partners

Haiying Enterprise, a subsidiary of China State Shipbuilding Corporation, signed an agreement with Tongguang Cable Group, Jiangsu Tongguang Marine Opto-electronic Technology and Beijing Minghua Xinda to establish Zhongchuan Offshore Company, an offshore engineering joint venture. The total investment is RMB100 million, with Haiying holding 41%.

- Type: Acquisition
- Announced: 2017-04-19
- Where: China
- Value: $14.5M (100.0M CNY)
- Status: announced
- Products: offshore engineering services, subsea engineering, offshore equipment leasing
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Haiying Enterprise](https://endata.com/companies/23682.md)
- [China State Shipbuilding Corporation](https://endata.com/companies/714.md) (partner)
- [Tongguang Cable Group](https://endata.com/companies/23683.md) (partner)
- [Jiangsu Tongguang Marine Opto-electronic Technology](https://endata.com/companies/23684.md) (partner)
- [Beijing Minghua Xinda](https://endata.com/companies/23685.md) (partner)

## Sources

- [splash247.com](https://splash247.com/cssc-subsidiary-sets-offshore-engineering-jv/), 2017-04-19: "The joint venture will meet the demands from China's offshore development strategy under the One Belt and One Road initiative and will promote the development of the offshore engineering industry."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.