McDermott subsidiary in jv with CSIC

Engineering and construction company McDermott International Inc. said that one of its subsidiaries has entered into a joint venture with a subsidiary of the state-owned China Shipbuilding Industry Corp (CSIC). The joint venture company, Qingdao McDermott Wuchuan Offshore Engineering Company Ltd., plans to establish a new 111 acre location in China. The facility is expected to be located next to two new China Shipbuilding shipyards which include a floating dock and five drydocks.

McDermott Wuchuan expects to focus its business on floating, production, storage, off-loading vessel construction and integration, the company said. The new facility will include structural and pipe shops, blasting and painting facilities, module assembly buildings, covered warehousing and lay down areas.