On October 8, Jinsha Heavy Industry (Tianjin) Co., Ltd., a wholly-owned subsidiary of Jiangsu Province based Chinese steelmaker Shagang Group, was officially registered and established with a registered capital of RMB 70 million ($10.4 million), marking Shagang Group's further expansion into shipbuilding and marine engineering-related businesses.
The new company is classified under the manufacturing of railway, shipbuilding, aerospace, and other transportation equipment. Its business scope covers ship construction, design, refitting and repair, alongside marine engineering equipment manufacturing and the production of marine supporting equipment.
