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SINGAPORE : Marco Polo secures $22.5m ship outfitting contract
Publish Date : 20-Jan-2012
Marco Polo Marine Ltd\'s wholly-owned subsidiary, PT Marcopolo Shipyard, has on Thursday secured a $22.5 million ship outfitting contract for a construction vessel.
Under the contract, Marcopolo is responsible for the engineering, procurement and installation of equipment for an existing hull equipped with DP 3 notation.
Revenue from the contract will be recognized progressively over a 12-month period based on the work done and is expected to contribute positively to the group\'s consolidated profit after tax for the financial years ending September 30, 2012 and 2013.
The latest contract win brings Marco Polo\'s total value of ship new build, repair and conversion projects to $57.5 million.
