Vallianz Holdings has announced its wholly owned subsidiary Vallianz Shipbuilding and Engineering has entered into a conditional sales and purchase agreement (SPA) to acquire a shipyard facility in Batam, Indonesia, as the company seeks to establish its own marine base.
Pursuant to the SPA, VSE will acquire the entire share capital of Singapore-incorporated Jetlee Shipbuilding and Engineering and its 99 per cent-owned Indonesian entity PT United Sindo Perkasa.
The marine base occupies a land area of about 8.8 hectares with a waterfront of about 390 metres in length.
Commenting on the acquisition, Vallianz CEO Darren Yeo said direct ownership in a shipyard facility would allow Vallianz to dock and carry out maintenance operations for its fleet of vessels, as well as third-party vessels that are managed by the group.
"As we continue with our fleet expansion program, we expect to reap greater cost savings and operating efficiencies from having our own marine base as compared to leasing third-party shipyards," he said.