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Triyards clinches contracts worth US$45.5m

TRIYARDS Holdings on Thursday announced a string of contracts worth US$45.5 million.

One of the contracts involves building a scientific research vessel for a new client, Taiwan Ocean Research Institute, National Applied Research Laboratories (Tori), a Taiwan government agency.

Slated for completion in the financial year ending Aug 31, 2017, the diesel electric-powered workboat worth more than US$26.4 million will be used to support ongoing research activities of TORI.

The other orders include two 26-metre wind farm crew transfer vessels, which will support opportunities in the renewable energy sector, as well as a 36-metre high speed passenger ferry. It will also do aluminium and steel fabrication work such as pontoons and gangways.

The vessel contracts were awarded by new clients based in the United Kingdom and New Caledonia.

The group has, over the past year, been diversifying its client and product mix, entrenching itself in new areas such as the renewable energy sector, beyond the challenging offshore oil & gas sector.