Mastek Signed Joint Venture Agreement of 'QJMS Project' with Chinese Partners...
On September 23th, 2006,
Mastek has signed Joint Venture Agreement ("JVA") with Chinese partners.
For over 4 years, Mastek has prepared this project with Jimo City Development & Investment Co., Ltd, Qingdao Enterprise Development & Investment Co., Ltd, Qingdao Shipyard.
This project is planned for 'Building the world class shipyard with High technology and system for highest efficiency of shipbuilding'.
And also QJMS is targeting bulkers of less than capesize but bigger than panamaxes for 1st phase and has set the pilot project as bulk carriers because construction of simple vessels will help the company to build up a good team.
The third phase will probably take place in 2010 and QJMS is planning to expand the facilities (will build VLCC size Dry Dock) to include the building of offshore vessels.
After approving this project by Shandong Municipal People's Government on last July 11th, 2006, measurement and geological survey have been started and shipyard design is being prepared.
During this event, many persons concerned attended, and also many Media & Press in China were curious and hurrying busily in and out of the meeting room for covering this event.
QJMS and concerned persons expect and leaped their heart for infinite opened new circumstances and challenge.