Kim Heng Ltd. announces a significant milestone in its renewable energy expansion strategy with the signing of a vessel framework agreement (VFA) alongside Soiltech Engineering Co Ltd Korea (STE) for offshore geotechnical survey services, according to the company's release.
Under the agreement, Kim Heng will provide a geotechnical drilling vessel, partnering with STE to execute geotechnical investigation works exclusively for an established global offshore windfarm developer in Korea.
The VFA spans four years with an optional two-year extension, granting the developer right of first refusal for Kim Heng's services. Leveraging over five decades of experience and STE's expertise in soil investigation, this collaboration positions Kim Heng to play a key role in Korea's offshore windfarm projects pre-construction phase.