OFFSHORE and marine company Viking will invest $15 million in an innovation hub aimed at helping promising offshore and marine companies grow.

Viking Offshore and Marine chairman Mr Andy Lim broke ground for the Viking Innovation Centre (VIC) today.

To be completed in 2014, the 120,000 sq ft facility will be built adjacent to the company's headquarters at Kian Teck Road.

The VIC will offer workshop space to companies specialising in offshore and marine products and services.

The centre will also provide quarters for employees, living and recreational amenities, tenant-shared service infrastructure, and flexibly configured space requirements.

Viking intends to spend $10 million to construct and furnish the VIC, and with additional $5 million set aside to invest in some of these companies.