The Shipyard occupies an area of 110 hectares with a shoreline of 3,600 meters. It has the capability to provide ship repair, specialized ship building and offshore engineering services.
In April 2014, the Group formed a strategic alliance with Keppel Offshore & Marine Ltd (“Keppel O&M”), a wholly-owned subsidiary of Singapore-listed Keppel Corporation Limited, by entering into a 30-year shipyard management services agreement. Pursuant to the conditional agreement with FELS Offshore Pte Ltd, a subsidiary of Keppel O&M, Keppel O&M will provide the Shipyard comprehensive services in offshore and marine solutions including design, construction and management. The alliance will leverage the Shipyard’s unmatched geographical location and operational accreditations to capitalise on favourable government policies and the extensive market in China. The co-operation with Keppel O&M will further enhance Titan’s position in becoming a leading solutions provider in the offshore and marine industry in China and Asia. The agreement provides Keppel O&M an option to subscribe (via warrants or convertible bonds) up to 9.9% of the Company’s equity and become a strategic shareholder of Titan. We believe this arrangement will enhance our strategic relationships and is a “win win” for both the Group and Keppel.