Hitachi inaugurates Chinese diesel JV

Hitachi Zosen has officially inaugurated Zhongji Hitachi Zosen Diesel Engine Co. (ZHD), its joint venture with Shanghai Zhongji Group (SZG), the parent company of Chinese shipbuilder Zhoushan Jinhaiwan Shipyard.

ZHD already held a ceremony on March 25 at the local site on, Zhoushan Island, Zhoushan city, commemorating the establishment of the new company. Production at ZHD is scheduled to commence by around October 2009. ZHD is capitalized at 200 million yuan (about $29 million), 75% invested by SZG and 25% by Hitachi.

The new plant is scheduled to manufacture MAN and Wartsila (currently applying for license) low-speed marine diesel engines with bore diameter of 35-98 cm, aiming at producing 65 units of 1.5 million horsepower annually by 2012.