Singapore-based Kim Heng Limited (Kim Heng), an offshore marine service contractor, has secured a contract to install wind turbines in Vietnam as the company expands into the renewable energy (RE) support sector. Kim Heng Heavy Equipment, a Kim Heng subsidiary, will execute the USD7.2 million contract for an undisclosed contractor. The company will provide engineering, technical and maintenance services for the wind turbine project. The initial contract period is 30 months, starting November 12, 2021 and can be extended by additional terms of three months each.
The wind turbines will be lifted and installed using a 1,250-tonne crawler crane, allowing the company to provide turnkey lifting and installation services for onshore and offshore renewable wind farm projects in Taiwan and Vietnam. A green loan from United Overseas Bank (UOB) will cover around USD5.5 million of the crane’s cost, with the remainder coming from Kim Heng’s internal resources.