Ezra's Vietnam yard wins $55-million contract

Offshore staff

SAIGON, Vietnam -- Ezra Holdings Ltd.'s wholly-owned Saigon Offshore Fabrication & Engineering Ltd. (SOFEL) has clinched a $55.4 million fabrication and assembly contract with delivery in fiscal year 2010. The customer was not revealed.

The contract is the second major job to be won by HCM Logistics Ltd., which owns SOFEL. According to the company, last October another HCM Logistics unit, Saigon Shipyard Ltd., marked its start into the offshore engineering market with a $103.1-million fabrication and assembly contract, also to be delivered in fiscal year 2010.

HCM Logistics is 100%-owned by Ezra.

"Asia's offshore oil and gas exploration and production activities are on an uptrend and the track record we are establishing as a quality engineering services provider positions our Vietnam yard well to secure new projects in fabrication and assembly work," says Ezra's MD Lionel Lee.

02/26/2008