Otto Marine eyes development of fabrication & marine facility

It has entered an MOU with a renowned port operator.

The marine company is looking to tap Indonesia’s robust oil and gas industry as it enters a memorandum of understanding (MOU) with a world-renowned port operator to look into the development of a marine and fabrication facility.

According to a statement by Otto Marine, the partnership will enhance Otto Marine’s Batam yard facility and is expected to be operational by July next year.

“The Proposed Development is strategically located in close proximity to Singapore and to the South East Asia region oil and gas fields. Otto Shipyard currently operates a 65 hectare shipyard through its sister company PT. Batamec,” the statement said.

“The Proposed Development will use a fraction of the yard space and is not expected to cause any disruption on PT. Batamec’s existing shipyard facilities,” the statement added.