Shandong Marine Engineering Equipment Company has opened, becoming a new member of the marine engineering equipment industry in Qingdao, according to Qingdao Daily.

The establishment of Shandong Marine Engineering Equipment Company is sponsored by Shandong Ocean Investment Company, which has set up a new company with Shandong Shipping Corporation and a private enterprise, Qingdao Xinwei Shipping Company. The company, registered in Qingdao, focuses on the management, research and manufacture of marine engineering equipment, which has an initial registered capital of 40 million yuan ($6.49 million).

The company has attracted experienced experts to set up an excellent team with rich experience in managing overseas markets.