Kim Heng’s subsidiary, Kim Heng 5G2 Shipbuilding & Engineering (KHSE), has been awarded a shipbuilding contract of about TWD249.5 million ($10.6 million) by TIPC Marine Corporation, according to an announcement dated Oct 16.
TIPM is a subsidiary of state-owned company Taiwan International Ports Corporation (“TIPC”), operates and manages a fleet of marine assets.
Under the contract, KHSE will provide design, engineering and newbuild of a self-propelled split hopper barge. The contract is scheduled to commence in the fourth quarter of 2023, and is expected to be completed by the first quarter of 2025.
Thomas Tan, CEO & chairman says: “Kim Heng’s proven track record in newbuilds and vessel modifications, successful delivery of vessels to Taiwanese customers as well as the completion of Horizontal Directional Projects in the Offshore Windfarm has enabled the group to make inroads in Taiwan to secure more newbuild projects and charter contracts in support of the renewable marine construction.”
Shares in Kim Heng closed 0.1 cents lower or 1.22% down at 8.1 cents on Oct 16.
