JTC Corporation, a statutory board under the Ministry of Trade and Industry (MTI), has finalised the sale of a shipbuilding facility in Singapore to Strategic Marine (S) Private Limited. Following this, the company has acquired all the fixed infrastructure as well as the lease of the shipyard located in 5 Benoi Road.

Strategic Marine will use the facility, which includes a 5,000-deadweight tonnage (dwt) dry dock and a 6,000 dwt slipway, to increase its construction capabilities and produce larger vessels, as well as provide repair and maintenance services. A 105 m long dry dock facility and a slipway is also expected to considerably boost capacity.