Kim Heng Offshore & Marine Holdings Limited, an established integrated offshore and marine value chain services provider, has announced that its wholly owned subsidiary KimHeng Marine & Oilfield Pte Ltd (“KHMO”) had signed a Memorandum of Understanding (“MOU”) with Hung Hua Construction Co. (“HHC”) and Thaitan Drilling Co. Ltd (“Thaitan”) to establish a long term business cooperation.
HHC is a marine construction company participating in dredging and maritime construction projects. For more than 30 years, HHC has been engaging in dredging of waterways, navigation channels, constructing of dykes, foundation piles, breakwaters, projects of large reclamation and port construction.
Thaitan is a company specialisingin the provision of leading Horizontal Directional Drilling (“HDD”) services.
The MOU is in relation to the operations between KHMO, HHC and Thaitan relating to HDD projects and marine construction projects.
KHMO and Thaitan will, as a consortium or joint venture,provide design, engineering, drilling equipment and project technical support to HHC’s HDD projects onshore and offshore.
KHMO and Thaitan will support HHC technically and operationally as a preferred sub-contractor for its future projects in Taiwan.
HHC will tender for future HDD projects and marine construction projects in Taiwan on behalf of KHMO and Thaitan.
HHC, KHMO and Thaitan will explore forming a joint venture through a subsidiary registered in Taiwan for future HDD projects and marine construction projects. KHMO,HHC and Thaitan will work towards signinga formal contractual agreementand charter party agreements.The MOU will remain in force for a period of one year, and renewable as mutually agreed by the parties.
Source:portnews
