SINGAPORE - Civmec on Monday (April 16) said the group has been awarded a contract from Luerssen Australia for an offshore patrol vessels project, which includes the supply and processing of steel for 12 vessels.
With this award, the company's order book now stands in excess of A$800 million (S$816 million).
Following the building of the first two vessels in South Australia, Civmec will undertake specific fabrication and and construction activities for the remaining 10 vessels, the company said.
It added that consolidation of these 10 vessels will be carried out in Civmec's new shipbuilding facility, which is currently under construction adjacent to its head office in Henderson, Western Australia.
Civmec said it has begun mobilising resources to ensure that the steel required for this project is cut in time to meet commencement works for the first vessel in the fourth quarter this year.
Said CEO Pat Tallon: "Securing such long-term work is great news for the company, our employees and our current and future apprentices and trainees. It reinforces our decision to invest in the development of a new state-of-the-art shipbuilding facility at our Henderson yard."
Civmec is an integrated, multi-disciplinary construction and engineering services provider to the oil and gas, metals and minerals, infrastructure and defence sectors.
On Monday morning, the company requested for a trading halt before the release of this announcement. The counter last traded at 53 cents apiece last Friday, unchanged from the previous day's close.