Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned Brazilian subsidiary, Navegantes Maritime Construction and Services, has entered into an agreement with Brazil’s TWB Group to acquire the Estaleiro TWB shipyard in Navegantes, Santa Catarina. This acquisition is subject to the fulfillment of conditions by TWB Group.
The 7.6-ha shipyard will be operated by Keppel O&M’s specialised shipbuilding arm, Keppel Singmarine. The yard has a 300m long waterfront and is equipped with a slipway, pipe and hull shops and an outfitting quay. Keppel O&M’s total investment in the yard, including further capital expenditure to upgrade and modernise the facility, will be in the region of about USD 50 million. Keppel’s new yard is expected to be operational by the second half of 2010. At full capacity, it is estimated to be able to complete an average of eight vessels a year.