Jaya Holdings, a Singapore-based shipyard and ship chartering company, said it has agreed to buy Chinese shipyard Nantong Dongjiang Shipyard Co Ltd, for 7.3 million Singapore dollars.
"Nantong Shipyard will immediately boost our shipbuilding capacity to meet our clients' growing demand for offshore support vessels to serve the currently booming offshore oil and gas industry," Jaya CEO Chan Mun Lye said.
"China is attractive as a cost efficient and competitive shipbuilding center. With the addition of this third shipyard, I expect the group to reap the benefits arising from the better economy of scale in our shipbuilding operations," Chan said.
Jaya, which is majority owned by Affinity Equity Partners, operates shipyards in Singapore and the nearby Indonesian island of Batam.
"Nantong Shipyard will immediately boost our shipbuilding capacity to meet our clients' growing demand for offshore support vessels to serve the currently booming offshore oil and gas industry," Jaya CEO Chan Mun Lye said.
"China is attractive as a cost efficient and competitive shipbuilding center. With the addition of this third shipyard, I expect the group to reap the benefits arising from the better economy of scale in our shipbuilding operations," Chan said.
Jaya, which is majority owned by Affinity Equity Partners, operates shipyards in Singapore and the nearby Indonesian island of Batam.