SembCorp Marine launches new yard in Singapore

SEMBCORP Marine has held a groundbreaking ceremony for its new yard that is expected to make an important contribution to the company's integrated marine hub.

SembCorp Marine contributes nearly 30 per cent of the industry's manufacturing output in Singapore, and its investment in building capacity is expected to have a strong spin-off effect on the entire industry.

"We [Singapore] are also further consolidating our position as an integrated marine and offshore hub. We currently have world class shipyards and companies offering complex oil and gas systems and components, and offshore-related services," said Trade and Industry Minister Lim Hng Kiang.

"To stay ahead in the global marine and offshore arena, Singapore's marine and offshore industry also needs to continually improve its competitive edge. I am therefore pleased to note that many companies in the sector have made the goal of improving their innovation and productivity levels a top priority," he said

"Sembcorp Marine's new yard reflects their commitment towards raising productivity levels. The yard will have the latest production technology to achieve faster turnarounds and optimise land use. It will enable SembCorp Marine to further boost its competitive advantage," said Mr Lim.

"The government has recently set aside SG$2 billion (US$1.44 billion) for a National Productivity Fund to encourage greater productivity growth across 12 priority sectors, including the marine and offshore sector. I encourage companies in the marine and offshore sector to come forwards and tap on these funds."
(source:www.schednet.com)