TH Heavy bids to enter FPSO sector

Kuala Lumpur: TH Heavy Engineering is upgrading its fabrication yard so that it can make more than 20,000 tonnes of steel a year.

TH Heavy has also said it is also looking to diversify into the Floating Production Storage and Offloading (FPSO) construction and ownership sector. It has made a bid for its first FPSO contract and is awaiting to hear if it has won, with a decision due in the coming couple of months.

TH Heavy has plans to own a number of FPSOs in the future as it looks to hedge its revenues.  [27/03/14]

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