Singapore: EMS Energy has entered into a tenancy agreement for the lease of a 23,237.88 sq m parcel of land in Tuas with a 106 m waterfront boundary, on which it will build a new facility for its offshore and marine activities.
The company has entered into an agreement with the landlord, Jurong Town Corporation (JTC), to lease the land on Tuas South Street 15 for 16 years and eight months, commencing 1 May 2014. The land is zoned for manufacturing of marine, oil and gas equipment, namely offshore rigs and cranes, deck machineries and other mechanical handling systems for oil rigs and vessels. The company will pay JTC annual rent and water frontage fees of approximately S$360,000 and S$158,000, respectively, per year.
The group intends to commence construction of a new waterfront facility on the Tuas site in the first half of this year.
Upon completion, the facility will replace the group’s current premises at 10 Tuas Avenue 11, which has 13 years of remaining lease and will house the group’s production facilities and offices. The new facility is approximately five times bigger than the current premises.
Tuas is being transformed into the port and maritime centre of the republic in the coming years. [20/02/14]