Eversendai picks up $180mn liftboats deal

Contract is a first for firm's offshore division at Ras Al Khaimah

Photo for illustrative purposes.
Photo for illustrative purposes.

Malaysian construction firm Eversendai Corporation Berhad has won a contract to build a pair of large liftboats from its yard at RAK Maritime City in Ras Al Khaimah.

The $180mn contract for Vahana Offshore will see it design, build and deliver the vessels, Aryan and Arjun, which will each have a rectangular hull and four, 95m truss-type legs with electric drives and pinion jacks that will allow it to jack up in water to a depth of around 70m.

They will also each have a 300 tonne crane, accommodation for up to 150 operatives and dynamic positioning systems.

The contracts represent the first venture into the offshore oil & gas market through a dedicated subsidiary, Eversendai Offshore. It builds, upgrades and refurbishes jack-up rigs as well as building floating production, storage and offloading systems.

Its fabrication yard in RAK Maritime City comprises an area of around 200,000m2 and 550m of quayside.

Eversendai Group executive chairman, Tan Sri A K Nathan, said: “This is a breakthrough contract for Eversendai; one which will see us provide our proven skills in a brand new sector.

"This contract is particularly exciting to us as it supports our strategic decision to establish our offshore oil & gas and marine operations and is in line with our strategy to strengthen our foothold in the Middle East, where we have enjoyed a dominant market share in terms of business opportunities."

Earlier this week, Eversendai reported a 60% year-on-year drop in profits for the first quarter of 2014 to $10.3mn. Revenues declined by 5% to $230.7mn.


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