ST Engineering on Monday said its marine arm, ST Marine, has secured a 534.8 million euro (S$880 million) contract to design and build four patrol vessels (PVs) and the provision of associated logistic support for the Royal Navy of Oman.
Awarded by the Ministry of Defence of the Sultanate of Oman, ST Marine will build four 75-metre PVs based on its proprietary Fearless Class of PVs.
The project will commence immediately with the first vessel expected to be delivered in second quarter of 2015 and the final vessel in the third quarter of 2016.
The contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
Awarded by the Ministry of Defence of the Sultanate of Oman, ST Marine will build four 75-metre PVs based on its proprietary Fearless Class of PVs.
The project will commence immediately with the first vessel expected to be delivered in second quarter of 2015 and the final vessel in the third quarter of 2016.
The contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.