Thailand-headquartered subsea and offshore drilling services company Mermaid Maritime Public Company Limited has established a joint venture in Taiwan with ATE Energy International, a Taiwanese company specializing in the energy engineering sector.
Mermaid Subsea Services (Thailand) Limited holds a 49% share in the joint venture called MERMATE Co., Ltd., while ATE Energy International holds 51%.
The entity’s primary activities include energy technical services, cable installation and offshore construction projects.
The investment is funded from internal resources.
As for ATE Energy International, its core business involves a comprehensive suite of services for construction projects, from initial stages of feasibility studies and planning to final phases of testing, maintenance, and quality assurance related to power plants, petrochemicals, incinerators, renewable energy, and the installation of high-end medical equipment.
This also includes project management, engineering design, equipment procurement, and manufacturing, as well as the construction of projects. In addition to these services, ATE also produces and sells storage equipment.
Earlier this month, Mermaid Maritime announced it had secured multiple project awards in the Middle East that have a combined value of approximately $430 to $500 million. The awards cover the delivery of a comprehensive suite of services, including diving, inspection, repairs and maintenance, as well as subsea cable installation scopes using a number of vessels, and a range of related services.