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Daewoo Signs JV With Nova Scotia

Daewoo Signs JV With Nova Scotia
South Korea's Daewoo Shipbuilding & Marine Engineering Co. (042660.SE) said Monday that it has agreed to form a C$40 million joint venture with Canada's Nova Scotia government to build wind-power generators.

Daewoo Shipbuilding Signs C$40 Mln Wind-Power JV With Nova Scotia Government.

South Korea's Daewoo Shipbuilding & Marine Engineering Co. (042660.SE) said Monday that it has agreed to form a C$40 million joint venture with Canada's Nova Scotia government to build wind-power generators.

Daewoo Shipbuilding will have a 51% stake in the joint business and the remaining 49% stake will be held by the state of Nova Scotia's government, the company said in a statement.

The shipbuilder said it also signed a memorandum of understanding with Nova Scotia Power Inc. to supply the wind power generators to the local utility company.

www.turkishmaritime.com.tr

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