Titan Petrochemicals set to seal Quanzhou Shipyard deal

Guangzhou: Titan Petrochemicals has announced that it is in the final stages of negotiations with a leading offshore oil rig manufacturer for the long-term cooperation in the management and operation of its shipyard in Quanzhou.

The rig manufacturer, believed to be from Singapore, has arranged for its experts to visit the shipyard in order to finalise the proposed terms of the cooperation.

The two companies entered into a MOU in Novemeber 2013 and Titan said they expect to finalise the formal binding documentation shortly. [02/04/14]

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