Further to the announcement on 1 July 2008, Keppel Verolme BV, a wholly owned subsidiary of Keppel Offshore and Marine Limited, has decided, after evaluating all possible options, to terminate the MPU Heavy Lifter project and commence the scrapping process of the concrete hull. Keppel Verolme has secured the necessary rights and endorsements from third parties to dismantle and dispose of the concrete hull which has no commercial value. This will release the drydock and other valuable resources for Keppel Verolme. Dismantling works on the unit is expected to commence in January 2009 and will be completed in about three months. The matter…
