Thursday 28 Mar 2024
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KUALA LUMPUR: Construction and engineering group Eversendai Corp Bhd’s (fundamental score: 0.75; valuation score: 1.2) unit Eversendai Offshore RMC FZE has completed the keel laying for both units of GustoMSC NG-2500X self-propelled jack-ups, awarded by Vahana Offshore (S) Pte Ltd.

In a statement yesterday, Eversendai said the keel laying signifies the commencing of the construction of the vessels, respectively named Aryan and Arjun, which are expected to be delivered in 2016.

“Our vessels are largely built in a series of pre-fabricated, complete hull sections rather than being built around a single keel.

“The event recognised as the keel laying is the first joining of modular components, or the lowering of the first module into place in the building dock,” it said.

The keel laying ceremony was held at Eversendai Offshore’s waterfront yard facility in RAK Maritime City, Ras Al Khaimah, the United Arab Emirates.

Eversendai executive chairman and managing director Tan Sri AK Nathan said the milestone substantiates the group’s decision to venture into the oil and gas (O&G), petrochemical and process plant construction sectors.

He noted that the group is looking forward to expand its presence in the O&G industry.

“We anticipate our foray into this sector to be a significant contributor to Eversendai group’s earnings in time to come,” he added.

 

This article first appeared in The Edge Financial Daily, on January 16, 2015.

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