Mooreast to Expand Production with Seatrium Facility Purchase

MT Newswires06-19

Mooreast (SGX:1V3) subsidiary Mooreast Asia will acquire a 98,919 square-meter facility from Seatrium New Energy, a unit of Seatrium (SGX:5E2), according to a Tuesday filing with the Singapore Exchange.

The facility, located at 60 Shipyard Crescent, will be financed internally and is expected to be operational by the end of 2024, pending approval from JTC Corporation.

This new facility will adjoin Mooreastâs existing yard at 51 Shipyard Road, increasing the total operational area to 129,609 square meters.

The expansion will boost production capacity to support 1.5 to 2 gigawatts (GW) of floating offshore wind energy annually, up from 0.5GW currently.

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