Kim Heng Offshore & Marine Holdings signs MoU with HHC and Thaitan
Kim Heng Offshore & Marine Holdings Limited, an established integrated offshore and marine value chain services provider, has announced that its wholly owned subsidiary KimHeng Marine & Oilfield Pte Ltd (“KHMO”) had signed a Memorandum of Understanding (“MOU”) with Hung Hua Construction Co. (“HHC”) and Thaitan Drilling Co. Ltd (“Thaitan”) to establish a long term business cooperation.
HHC is a marine construction company participating in dredging and maritime construction projects. For more than 30 years, HHC has been engaging in dredging of waterways, navigation channels, constructing of dykes, foundation piles, breakwaters, projects of large reclamation and port construction.
Thaitan is a company specialisingin the provision of leading Horizontal Directional Drilling (“HDD”) services.
The MOU is in relation to the operations between KHMO, HHC and Thaitan relating to HDD projects and marine construction projects.
KHMO and Thaitan will, as a consortium or joint venture,provide design, engineering, drilling equipment and project technical support to HHC’s HDD projects onshore and offshore.
KHMO and Thaitan will support HHC technically and operationally as a preferred sub-contractor for its future projects in Taiwan.
HHC will tender for future HDD projects and marine construction projects in Taiwan on behalf of KHMO and Thaitan.
HHC, KHMO and Thaitan will explore forming a joint venture through a subsidiary registered in Taiwan for future HDD projects and marine construction projects. KHMO,HHC and Thaitan will work towards signinga formal contractual agreementand charter party agreements.The MOU will remain in force for a period of one year, and renewable as mutually agreed by the parties.
About Kim Heng Offshore & Marine Holdings Limited
With 50 years of experience and listed on the Catalist Board of the Singapore Exchange Securities on the 22nd of January 2014, Kim Heng Offshore & Marine Holdings Limited is an established integrated offshore and marine value chain services provider, engages in different stages of offshore oil and gas projects from oil exploration to field development and oil production. Kim Heng has built its brand over the years and currently caters to world renowned customers from over 25 countries in the regions of Southeast Asia, USA, Latin America, Australasia, Middle East and Europe. TheGroup’s operations are strategically located in Singapore, with two shipyards at 9 Pandan Crescent and 48 Penjuru Road. The shipyards, consists of a combined water front of 205 metres, enable the Group to carry out afloat repairs, fabrication, newbuild, painting and blasting works.