August 28, 2003

Sembcorp Marine plans new yard
Singapore's Business Times reported yesterday that SembCorp Marine is preparing to build a single, large shipyard that will replace its aged Jurong and Sembawang facilities on the west coast.

The newspaper understands the proposed multi-million dollar yard could be built on land already selected in Tuas, creating one of the biggest industrial projects in Singapore.

The Business Times says confirmation of the plan effectively ends the long-touted proposed merger and consolidation of SembCorp Marine and major local competitor Keppel Offshore and Marine. It says the SembCorp Marine plan is in line with government thinking that Singapore should retain two strong marine players to foster competition in industry, while maximizing efficiency through colocation of yards

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