Singapore: Offshore operator Swissco Holdings is purchasing a 26,248 square metre property at 21 Tuas Road as a base to manage and service its expanded fleet.
The land was purchased for S$16.2m and will be used as an additional yard facility that Swissco has at Penjuru Lane, and will be used to provide repair services to both its own fleet and third party vessels. The Tuas Property, which has a water front of around 107 metres and a 30 metres by 100 metres slipway, will be purchased using a combination of internal resources and financing.
Swissco Holdings recently announced it would pay S$285m to take over Scott and English Energy, paving the way to enter the offshore rig chartering business. [31/03/14]