Shanghai: Jaccar Holdings, the Luxembourg investment vehicle of Jacques de Chateauvieux, has signed a partnership agreement with Shanghai Watts Gallop Group to jointly develop an engineering and contracting business in the offshore oil and gas sectors.
Watts Gallop Group will contribute its manufacturing platform of Jiangsu Watts Offshore & Engineering, while Jaccar Holdings will share its experience in shipbuilding, owning and operating.
The cooperation of the two groups will be carried out through an EPC company based in Hong Kong, JHW Enginnering & Contracting, into which German company Hartmann Rederei will also be involved.
“JHW Engineering & Contracting and Jiangsu Watts Offshore & Engineering were the missing components for carrying out a new phase of Jaccar Holdings development while leveraging on its already existing partnership in shipbuilding, design and engineering, as well as its collaboration with large financial institutions in China. The new business model will be implemented for the benefit of a customer base well extended beyond the needs of Jaccar’s affiliates. We are eager to provide our services to a large domestic and international customer base,’’ said de Chateauvieux, the chairman of Jaccar Holdings.