Shanghai: Chinese shipbuilder Jiangsu Rongsheng Heavy Industries Co ,Won a $484 million deal.
Chinese shipbuilder Jiangsu Rongsheng Heavy Industries Co, which is aiming to sell shares to the public in 2009, won a $484 million deal to build four ships for Oman Shipping Co, a government official said on Sunday. The vessels would carry exports from an iron ore pellet plant in northern Oman which is expected to begin production in the second half of 2010. Brazil's Companhia Vale do Rio Doce (Vale) is building the $1 billion plant. Rongsheng has a relationship with Vale already – building $1.2bn of VLOCs for the Brazilian mineral conglomerate. "The vessels will be delivered by the end of 2011 or beginning of 2012 and will be chartered to Vale for its exports," the official from Oman's Tender Board told Reuters.
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