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Naval Industry News - Singapore, Oman |
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Engineering's Marine Arm Secures S$880M Contract To Design And Build Four
Patrol Vessels For The Royal Navy Of Oman |
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Singapore
Technologies Engineering Ltd (ST Engineering) today announced that its
marine arm, Singapore Technologies Marine Ltd (ST Marine) has secured
a contract worth €534.8m (about S$880m) to design and build four
patrol vessels (PVs) and the provision of associated logistic support
for the Royal Navy of Oman (RNO).
This contract was awarded by the Ministry of Defence of the Sultanate
of Oman through a competitive international tender. ST Marine will build
four 75-metre PVs based on its proprietary Fearless Class of PVs. The
project will commence immediately with the first vessel expected to
be delivered in 2Q 2015 and the final vessel in 3Q 2016. |
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ST Marine's Fearless 75 Patrol Vessel
(picture: ST Marine)
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"We are honoured to be entrusted by the
Royal Navy of Oman with this project. This is a significant contract
to ST Marine and we are confident that we will live up to our reputation
as a total naval solutions provider – from design to construction
to logistics support and hopefully through life support for our customer’s
vessels.”
~ NG Sing Chan
President, ST Marine
This contract is not expected to have any material impact on the consolidated
net tangible assets per share and earnings per share of ST Engineering
for the current financial year.
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