Shanghai engine jv launched

The Hudong Heavy Machinery Company has launched a marine diesel engine joint venture in Shanghai with China State Shipbuilding Corp. (CSSC) and Mitsui Shipbuilding Co., (MSC) of Japan. The joint venture has a total investment of $144.9 million and will have an annual diesel engine capacity of one million bhp by 2007 and three million bhp by 2014. The period of the joint venture will last 30 years.