Singapore Corporate News - 4 Dec 2007

Kep O&M launches R&D centre

KEPPEL Offshore & Marine (KOM), the world's largest builder of offshore rigs, celebrated its fifth anniversary yesterday with the launching of a $150 million research and development centre, and an order book of over $13 billion, of which $7 billion was secured this year.

The Keppel Offshore & Marine Technology Centre (KOMtech) will carry out R&D work in the areas of rig and vessel design, shipyard process improvement, critical equipment and subsea and subsurface equipment, the miniaturisation of process topsides, monochem verticals, materials as well as technology foresight and knowledge building for KOM.

Keppel will be seeding the $150 million over an initial five-year period and the centre will work in synergy with the group's three existing technology units - Offshore Technology Development (OTD), Deepwater Technology Group (DTG) and Marine Technology Development (MTD).

China Energy to expand capacity

CHINA Energy Ltd, China's largest producer of dimethyl ether (DME), is embarking on new plans that will boost its spending on capacity expansion to US$443 million.

The group is planning to increase its methanol production capacity from the existing 250,000 metric tonnes per annum (mtpa) to 750,000 mtpa by the end of 2008.

The estimated capital expenditure for the methanol capacity expansion is about US$193 million, which will be funded through a combination of internal cash reserves.