 Joint Venture With Ezra Holdings Limited, Petrovietnam Transportation Corporation And EOC Limited
Feb. 5, 2010 - Keppel Corporation Limited (the "Company") wishes to announce that KSI Production Pte Ltd ("KSI"), a wholly-owned subsidiary of the Company through Keppel Offshore & Marine Limited, has today formed a joint venture with Ezra Holdings Limited, PetroVietnam Transportation Corporation and EOC Limited to co-own a Floating Production, Storage, and Offloading vessel ("FPSO") slated to serve the Chim Sao project in Vietnam. KSI will invest up to US$30 million in cash for a 20% interest in the joint venture company, PV Keez Pte. Ltd.
The joint venture is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the current financial year.
2010-02-05
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Keppel Corporation Limited For further information, please contact:
(Ms) Diana Chan
Senior Executive
Keppel Group Corporate Communications
Tel: (65) 6413 6430
Email: diana.chan@kepcorp.com
With a global footprint in over 30 countries, Keppel Corporation leverages its international network, resources and talents to grow its key businesses. It aims to be the Provider of Choice for Solutions to the Offshore & Marine Industries, Sustainable Environment and Urban Living, guided by its key business thrusts of Sustaining Growth, Empowering Lives and Nurturing Communities.
The Keppel Group of Companies includes Keppel Offshore & Marine, Keppel Integrated Engineering, Keppel Energy, Keppel Telecommunications & Transportation (Keppel T&T) and Keppel Land, among others.
Keppel Offshore & Marine is the leader in offshore rig design, construction and repair, ship repair and conversion and specialised shipbuilding. Its Near Market, Near Customer strategy is bolstered by a global network of 20 yards and offices in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions.
www.kepcorp.com
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