Tsuneishi to enhance China investment

Tsuneishi Corporation (formerly Tsuneishi Shipbuilding) will be expanding its Tsuneishi Group (Zhoushan) Marine & Development facility and establish a new company which will manufacture large ship blocs. The shipbuilder said that it will invest $32 million and Tsuneishi aims to operate the new company from March this year and full operation will start in July with plans to achieve a bloc manufacturing output of three ships this year and four ships next year.

In addition, the shipbuilder reported that a major upgrade of facilities at Tsuneishi Heavy Industries on Cebu, Philippines, is well underway. The upgrade involves building of a new slipway as part of a strategy to boosting its output to 11 vessels in 2005 and 14 vessels by 2008.