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Keppel Corp Unit Secures Construction, Repair Contracts Worth US$70 Million

Keppel Corp. (BN4.SG) said Thursday its offshore and marine unit received US$70 million worth of contracts for construction and repair work in the U.S. and Azerbaijan.
Keppel Offshore & Marine's U.S. shipyard secured a contract from Transocean Offshore Deepwater Drilling Inc.-a unit of Transocean Ltd. (>> Transocean LTD)-to repair and upgrade a semisubmersible rig, the Singapore-based conglomerate said in a statement. The project is expected to be completed in the first quarter of 2013.
In Azerbaijan, Keppel will build a floating dock for Baku Shipyard LLC, the Singaporean firm said, adding the project is due to be completed in the fourth quarter of 2013.
Keppel didn't disclose the value of the individual contracts.
Source: Dow Jones