Sembcorp Marine leases 34.5-hectare site for Phase II new yard

Part of a massive 208-hectare facility.

In a release, Semcorp Marine announced its acquisition of a 34.5-hectare site for the Phase II development of its Integrated New Yard Facility.

Located at Tuas View South Extension in the west of Singapore, the 34.5-hectare site is the second phase of the planned 206-hectare New Yard Facility that Sembcorp Marine announced on November 4, 2009 to position the Group for sustainable growth and long-term competitiveness

The lease of the 34.5-hectare Phase II new yard from Jurong Town Corporation (JTC) will be 30 plus 30 years. Located adjacent to and north of the Phase I development, the Phase II new yard will be developed in stages and over a period of four to five years.

Details of the Phase II new yard, commencement of site development and capex plans will be announced separately at an appropriate time.

This is a long-term expansion project and it is not expected to have any material impact on the net tangible assets and earnings per share of the company for the year ending December 31, 2012.

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