Kim Heng forms offshore wind JV in Taiwan

The company said its wholly-owned subsidiary, Kim Heng Marine & Oilfield Pte Ltd (KHMO), has incorporated a joint venture company in Taiwan, Bridgewater Marine (Taiwan) Limited, with 蓮豪有限公司(Lian Ho Co Ltd), a company incorporated in Taiwan and owned by two Taiwanese residents.

The initial paid up capital of the JVC is approximately S$47,700 (US£33,500). The JV is 51% owned by Lian Ho and 49% owned by KHMO.

In addition to the JV, the company’s indirect wholly owned subsidiary, Mazu Land & Marine Works Pte Ltd, has incorporated a branch in Taiwan called Mazu Land & Marine Works Pte Ltd. The initial paid up capital of the branch is approximately S$238,000.

“The JV and the branch are intended to expand our offshore and marine business into Taiwan to support the offshore wind projects by chartering vessels to customers in Taiwan,” said Kim Heng.

“The setup will provide a marine spread and support services for the installation of horizontal directional drilling conduits by Hung Hua Construction Co Ltd related to the submarine cable installation works for an offshore wind project in Taiwan.”