IHI Corp will ally with a top Singaporean shipbuilder Jurong Shipyard Pte.

JAPAN PRESS: IHI Corp will ally with a top Singaporean shipbuilder Jurong Shipyard Pte. Ltd to construct offshore oil rigs to survive stiff competition with South Korean makers, the Nikkei reports. IHI will oversee overall rig design and make the floating structures at its Aichi factory while Jurong will take charge of final assembly of plants for extracting crude to be attached at its Singapore facility, the report says. By combining its design capabilities with Jurong's cost competitiveness, IHI hopes to catch up to its South Korean competitors, it says.
Source: Automated Trader