Yangzijiang

Yangzijiang: enters into JV with Qatar Invmt Corp (QIC) to set up Group Companies which consist of two entities with the proposed names, YZJ Offshore Engineering (“YOEPL”) and YZJ Offshore Engineering (China) (“YOECCL”).

YOEPL will have a paid up capital of US$110m, equally subscribed by YZJ and QIC.
YOEPL will provide mktg, procurement, front end engrg and design, mgt consultancy services for the construction, fabrication/repaid of O&G marine vessels and platforms.

YOECCL will have a paid up capital of US$250m, 40% owned by YOEPL and 60% owned by YZJ.
YOECCL will provide turnkey construction, fabrication/repaid of offshore O&G marine vessels and platforms.

Recall, QIC had purchased Baker Tech’s entire 15% stake in PPL Shipyard, which has offshore compatibilities. This partnership btwn QIC and YZJ marks the first steps by YZJ to pursue its offshore ambitions.

YZJ trades at 4.7x P/E, 1.5x P/B.