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SINGAPORE : Keppel FELS and the Seafox group will build a new wind turbine installation vessel costing US$220 million.
The vessel can operate in water depths of 65 metres in the North Sea. Existing vessels can operate only at depths of up to 45 metres.
The vessel can also operate all year round, unlike current wind turbine installation vessels which have limited operational periods due to harsh environmental conditions.
The vessel will be delivered in the second half of 2012.
It will be managed and operated by Workfox BV, a member of the Seafox group.
In a news release, Keppel says a joint venture company has been set up for this project.
Seafox has the option of buying Keppel's stake in the joint venture company.
Keppel says the project is not expected to have material impact on its net tangible assets or earnings per share for the current financial year. - CNA /ls
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