China invests in Czech yard

Hundreds of jobs will be created in Decin, Czech Republic, where Hudong-Zhonghua Shipbuilding Group of China wants to invest CZK 1.3 billion ($52.5 million) to extend shipbuilding production at the Ceske Lodenice shipyard. A preliminary plan forecasts that Ceske Lodenice could employ 500 people next year and up to 1,500 staff in the years to come.

The investment by Hudong-Zhonghua is expected to enable the new facility to begin producing 50 ships a year. The new shipyard is the first big Chinese investment in the Czech Republic.