Keppel O&M's subsidiaries secure contracts worth S$420m
Keppel Offshore & Marine (Keppel O&M), a unit of Keppel Corp, said its subsidiaries have secured three new contracts worth a combined value of S$420 million.
This brings the group's total order wins for 2012 to S$9.9 billion.
Keppel Singmarine secured two of the three new contracts with the third new contract won by Keppel Shipyard.
"2013 will be a busy year for us as we continue to focus on the quality execution of all our projects - we are committed to ensure that they are delivered safely, promptly and to high customer satisfaction." says Mr Tong Chong Heong, Chief Executive Officer of Keppel O&M,
"We will also enhance our capabilities, and so extend our range of value-added services." he added.
One of Keppel Singmarine's two new contracts is from Hydro Marine Services,a subsidiary of McDermott International, for the construction of a high-specification deepwater pipelay vessel.
Works for the pipelay vessel is scheduled to commence in first quarter 2013 and is expected to complete in approximately two and a half years.
Meanwhile, Keppel Shipyard's new contract is from EMAS Offshore Construction and Production Pte Ltd.
This is to modify and upgrade an existing Floating Production Storage and Offloading (FPSO) facility.
In a statement on Thursday, the company said the above contracts are not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the current financial year.
Source: http://www.channelnewsasia.com/