Tuesday, April 10, 2012

ST Engineering secures S$880m Oman contract

SINGAPORE : Singapore Technologies Engineering Ltd's marine arm, Singapore Technologies Marine, has secured a contract worth about S$880 million to design and build four patrol vessels for the Royal Navy of Oman.

The contract, which also includes the provision of associated logistic support for the project, was awarded by the Ministry of Defence of the Sultanate of Oman through a competitive international tender.

The first vessel is expected to be delivered in the second quarter of 2015 and the final vessel in the third quarter of 2016.

The contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

- CNA/ms

View the original article here

Source Form Channel News Asia

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