Zhenhua Heavy Industries, also known as ZPMC, the world's biggest port machinery manufacturer, completed its first rig on Friday. It is the most advanced self-developed offshore drilling platform in the nation.
The rig, called KS Java Star 2, is the outcome of collaboration between ZPMC, formerly known as Shanghai Zhenhua Port Machinery Co, and Friede Goldman United Ltd, the US-based designer and service provider for drilling platforms.
ZPMC's parent China Communications Construction Co Ltd acquired Friede Goldman in 2010 for $125 million.
Built at a cost of US $165.65 million, the KS Java Star 2 is capable of working in water 300 up to feet deep. A notable feature is a cantilevered "envelope" that can provide accommodation for 110 persons.
The rig is owned by Singapore's KS Energy Ltd and will be delivered to Vietnam shortly to work on a contract there, according to Kris Wiluan, chairman and chief executive officer of KS energy.
About one-third of ZPMC's total orders were from marine engineering businesses last year. "And we are ambitiously looking forward to having more than half of our orders derived from marine engineering in the coming years," said Song Hailiang, chairman of ZPMC.
Source: ChinaDailyUSA
