This turnkey construction contract is for the design and construction of the proposed 4 VLCC drydocks, wharves, quays, piers and other ancillary works for the New Yard Phase I Development project.
Construction work is expected to commence immediately upon the signing of the construction contract on November 18, 2009 with completion scheduled for May 2013.
The above contract is not expected to have any material impact on the earnings and net tangible assets per share of Sembcorp Marine for the year ending December 31, 2009.
Zhen Hua is a subsidiary of China Harbour Engineering Company Ltd.
