Shanghai: China Merchants Heavy Industry (Jiangsu) has signed a contract with Singapore owner Primepoint to construct a semi-submersible drilling platform and a drilling barge which is the first offshore contract it officially signed since the establishment of the company in 2012.
The contract value is $300m and the vessels will be built at China Merchants’ new Jiangsu offshore facility in which China Merchants will invest a total of RMB10bn. The facility will be operational in the second half of this year. [25/04/13]
