Jaya Shipbuilding signs agreement with IHC Merwede

JayaJULY 20, 2012 — Jaya Shipbuilding and Engineering Pte. Ltd., the shipbuilding subsidiary of Singapore's Jaya Holdings, has signed an agreement with IHC Merwede Asia Pacific that enables IHC's high-specification offshore vessels to be produced by Jaya at its shipyards in Singapore and Batam, Indonesia.

As part of the wide-ranging agreement, IHC Merwede will also provide design and engineering support services to Jaya.

The agreement creates the opportunity for further collaboration between the companies in future, aligned with Jaya's strategy of building sophisticated and modern offshore support vessels and IHC Merwede's plans for further expansion of its integrated shipbuilding and equipment manufacturing operations in the region.

Venkatraman Sheshashayee, Chief Executive Officer and Executive Director of Jaya Holdings, said: "This tie upJaya-HoldingsCEO with IHC Merwede represents a major step forward for Jaya Shipbuilding and Engineering. IHC brings a world class track record of maritime engineering and technological innovation to this agreement and they are widely recognised as an industry leader in many areas of the maritime and offshore sectors. We look forward to working with IHC and believe it will be a productive relationship for both parties."

IT'S A DEAL: Venkatraman Sheshashayee, CEO and Executive Director of Jaya Holdings (left) and Denis Welch, CEO of IHC Merwede Asia Pacific, shake hands after signing an agreement that will allow Jaya to build IHC Merwede's high-end offshore support vessel designs at its shipyards in Singapore and Indonesia

Denis Welch, Chief Executive Officer of IHC Merwede Asia Pacific, said: "IHC Merwede is pleased to be collaborating with Jaya Shipbuilding and Engineering as we believe there are plenty of opportunities for our group to add value to Jaya's portfolio. This agreement will bring great mutual benefits to both companies and we are delighted to be working with the Jaya team."

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