June 13 (NBD) -- Power equipment manufacturer China Shipbuilding Industry Group Power Co Ltd ("CSIGP", 600482.SH) announced Wednesday it will invest 190 million yuan (29.6 million U.S. dollars) in an industry fund, which is limited to equity investment in Jiangsu Suvast Special Alloy Technology Co., Ltd.

CSIGP's investment makes up 44.7 percent of the fund's total. 

The Jiangsu-based company is the first in China that has grasped the advanced technique of single-crystal blade casting and is able to guarantee stable supply. 

The capital injection in the special alloy maker is expected to help CSIGP accelerate strategic arrangements in the power sector.  

Email: lansuying@nbd.com.cn