Cosco Corporation secures contract valued over USD1 80 million for one jackup drilling rig
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The Board of Directors of COSCO Corporation (Singapore) Limited announces that COSCO (Dalian) Shipyard Co ., Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Grou p Co., Ltd, has secured a contract valued over USD180 million from an Asian c ompany to build one (1) Jackup drilling rig. The rig is scheduled for delivery in the 3rd quarte r of 2015. None of the directors or controlling shareholders o f the Company has any interest, direct or indirect in the contract. Barring any unforeseen circumstances, the contract is not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31 December 2013, the company said in its press release.