Sembcorp Marine subsidiary Sembawang Shipyard and Indian company Kakinada Seaports have teamed up to establish and operate a marine and offshore facility catering to offshore drilling units operating in Indian waters.
The joint venture, Sembmarine Kakinada (SKL) will be based on India's east coast between Vishakhapatnam and Chennai Port.
Sembcorp Marine will hold a 19.9% share of the joint venture's initial investment of $50 million, with an option to boost its holding to 40%.
Sembcorp said SKL will be developed in stages, with the initial phase covering riser/equipment repairs, afloat repairs and modules fabrication.
Within three to five years, the pair hope to see SKL become a one-stop integrated offshore service facility catering to offshore vessels and merchant ships including the repairs and servicing of offshore vessels and ships, new-building of offshore vessels and ships, riser/equipment repairs and modules fabrication.
Sembmarine Kakinada will commence operations immediately by using the available pier at the Kakinada port.
The copany added it has already lined up a "favoured customer contract" with US offshore drilling giant Transocean, as well as Indian player Aban Offshore.
The joint venture, Sembmarine Kakinada (SKL) will be based on India's east coast between Vishakhapatnam and Chennai Port.
Sembcorp Marine will hold a 19.9% share of the joint venture's initial investment of $50 million, with an option to boost its holding to 40%.
Sembcorp said SKL will be developed in stages, with the initial phase covering riser/equipment repairs, afloat repairs and modules fabrication.
Within three to five years, the pair hope to see SKL become a one-stop integrated offshore service facility catering to offshore vessels and merchant ships including the repairs and servicing of offshore vessels and ships, new-building of offshore vessels and ships, riser/equipment repairs and modules fabrication.
Sembmarine Kakinada will commence operations immediately by using the available pier at the Kakinada port.
The copany added it has already lined up a "favoured customer contract" with US offshore drilling giant Transocean, as well as Indian player Aban Offshore.